GGICO sells 75pc of Axix Residence phase 3 units
Dubai, November 10, 2008
GGICO has sold 75 per cent of all units available from the third phase of its Axis Residence project, located in Dubai Silicon Oasis, within the first few days of its launch.
The company said that their special financing solutions had greatly increased the attractiveness of the opportunity since installments could be made over a 100-month period, with a down payment of just three per cent.
This brings it very much into the range of most people living in the UAE, especially those on medium and low level incomes.
Simon Philip, GGICO general manager, said: "Our aim as a company is to inspire confidence in our products and make them as accessible to our customers."
"This is especially the case at a time when many other financial institutions are refusing to extend credit as a consequence of the global credit crunch," he noted.
“It is therefore especially pleasing to see that the steps we have taken to make our financial solutions readily accessible are finding an ethusiastic audience,” he added.
Real Estate Regulatory Agency CEO Marwan Bin Ghulaita too emphasized GGICO’s committment to developing such innovative financial models during his visit to the pre-launch event.
The Axis Residence project was launched in 2007 and has attracted a large number of investors because of its attractive location in Dubai Silicon Oasis, and high build quality.
The third phase of the project comprises eight towers covering an area of 1.3 million sq ft, with a total value of Dh1.2 billion.-TradeArabia News Service