Gulf General Investment Co. PSC (GGICO) will start hand over of its Topaz Residence Tower 1 in Dubai Silicon Oasis by the end of the year, while Towers 2 and 3 will begin handover in 2018.

The developer announced that after selling out all units in the first tower, it will soon handover apartments for Tower 2 by Q4 2018, which is now 50% complete.

Topaz Residences Tower 2 one-bedroom apartments start at 1000 sq.ft. for $188 (AED691 per sq.ft), the lowest per-square-feet rate in Dubai Silicon Oasis according to GGICO.

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The total apartment value is $193,000 (AED708,695) with an EMI option of $476 (AED1,750) per month. The developer is also offering 40% payment during construction and 60% over three years, with a reservation fee of $20,220 (AED74,262).

Topaz Residences Tower 3 is 75% complete with the handover scheduled in third quarter of 2018.

Topaz Residences Towers are high-rise residential buildings that feature one-bedroom apartments, complete with amenities including kitchen appliances. All the three towers span a total built-up area of 64,839m2 (697,924.47 sq.ft.), housing 448 apartments.

Mohammad Harib Fadhel Almazrooei, managing director of GGICO, said: “I am delighted to see our plans of offering premium yet affordable quality living unfold just as we had envisioned.

“GGICO’s sweeping presence in Dubai Silicon Oasis is a befitting decision as the community is thriving with outstanding facilities, and services.

“It is a great community to live and work for those looking for the right balance of quality and affordability.”

GGICO project portfolio includes Axis Residences, Platinum Residences, and the in-progress Topaz Residences project, GGICO holds 34% of the total residential projects in Dubai Silicon Oasis, in comparison to other real estate companies.