Topaz Residences

TL;DR — Topaz Residences at a Glance Three mid-rise residential towers by GGICO Properties (Gulf General Investment Co., DFM-listed, AED 11 billion portfolio) delivering 448 exclusively 1-bedroom apartments across Dubai Silicon Oasis. Each tower rises G+8 storeys on 90th Street, Nadd Hessa, with rooftop pools, gender-separated gyms, sauna, steam room, jacuzzi and a kids' pool. Completed between 2018 and 2019, Topaz Residences is a fully stabilised income asset offering 1BR units at AED 700,000–850,000 with gross yields of 8–10% — among the strongest in DSO, driven by the tech-company tenant base of IBM, Microsoft, Oracle, HP, Dell, SAP, Cisco, Nvidia, Intel and Qualcomm.

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Overview — Three Towers, One Rental Powerhouse in Dubai Silicon Oasis

Topaz Residences is a fully completed three-tower residential development by GGICO Properties — the real estate division of Gulf General Investment Co. PSC — positioned within the Nadd Hessa sub-zone of Dubai Silicon Oasis (DSO). Comprising Topaz Residence 1, Topaz Residence 2 and Topaz Residence 3, the complex delivers 448 one-bedroom apartments across three G+8 mid-rise buildings on 90th Street, all within walking distance of each other and served by the same community amenity infrastructure.

The project is a cornerstone of GGICO's dominant DSO presence — the developer is estimated to control approximately 34% of total residential supply in Dubai Silicon Oasis, with its broader DSO portfolio including Axis Residences (8 buildings, studios to 3BR), Platinum Residences 1 and 2, and the three Topaz towers. GGICO's wider Dubai portfolio extends to Horizon Tower, Emirates Crown and Marina 106 in Dubai Marina; Grand Horizon and Olympic Park in Dubai Sports City; Lake Point Tower in JLT; and Crown Residences in Tecom.

All three towers are fully completed and operational:

• Topaz Residence 1: Handover commenced end-2017; formal completion December 13, 2018. Smaller footprint, units ranging ~764–850 sqft.
• Topaz Residence 2: Targeted Q4 2018; formal completion Q1–Q2 2019. Tower 2 alone contains 200 confirmed one-bedroom units at approximately 1,000–1,194 sqft.
• Topaz Residence 3: Targeted Q3 2018; actual completion ~2019. Unit sizes broadly consistent with Tower 2.

Topaz Residences is offered as a freehold asset — ownership is available to all nationalities, consistent with DSO's free zone freehold designation for residential developments.

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Developer — GGICO Properties (Gulf General Investment Co. PSC)

Gulf General Investment Co. PSC (GGICO) is a publicly listed UAE conglomerate with over five decades of operating history. Originally incorporated in 1973 as Arab Economists Corporation P.S.C. and renamed to Gulf General Investment Company P.S.C. in 1992, the company relocated its headquarters to Dubai in 2001 and listed on the Dubai Financial Market (DFM) in April 2004 (ticker: GGICO). The company was co-founded by H.E. Abdalla Juma Al Sari and Dr. Moawiyah S. Al Shunnar.

GGICO is a diversified conglomerate operating across manufacturing, industrial, financial services, insurance, retail, real estate, transport and hospitality. Subsidiaries include Emirates Lube Oil Co. Ltd, Gulf Prefab Houses Factory LLC, Gulf Dura Industries Co. LLC and Gulf General Steel Co. LLC. GGICO Properties — the real estate development arm — has delivered over 1.5 million square feet of premium real estate, with more than 21 projects in its portfolio at various stages of design, construction and delivery, at a total estimated portfolio cost of approximately AED 11 billion.

In Dubai Silicon Oasis specifically, GGICO holds an estimated 34% of total residential supply — making it by far the dominant developer in the district. This scale provides practical benefits for residents: community management, maintenance and tenant services are underpinned by institutional developer-grade resources rather than small-scale operators.

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Location — 90th Street, Nadd Hessa, Dubai Silicon Oasis

Dubai Silicon Oasis (DSO) is a dedicated technology free zone and mixed-use community established by Emaar and later managed by Dubai Silicon Oasis Authority (DSOA). Positioned at the intersection of Al Ain Road (E66) and Sheikh Mohammed Bin Zayed Road (E311) in eastern Dubai, it serves as a self-contained community anchored by a major technology business park hosting global technology companies.

The Topaz towers sit on 90th Street, Nadd Hessa sub-zone — within the City Oasis precinct as classified by real estate portals. Key connectivity and distances:

| Destination | Distance / Drive Time | |---|---| | Dubai International Airport | ~21.7 km / ~21 minutes | | Downtown Dubai / Burj Khalifa | ~24 minutes | | Cedre Shopping Centre (in DSO) | ~2.3 km | | Silicon Central Mall | Within DSO (opened 2023) | | GEMS Wellington Academy – Silicon Oasis | Within DSO, ~10 minutes by car | | Al Ain Road (E66) | Direct access | | Sheikh Mohammed Bin Zayed Road (E311) | Direct access |

Metro: There is no metro station in DSO currently. The nearest station is Centrepoint (formerly Al Rashidiya), approximately 15 minutes by car. A dedicated DSO Metro Station is planned opposite Fakeeh University Hospital, with completion targeted for 2029 — a future connectivity catalyst for DSO property values. RTA bus routes including X25 serve the area, with stops at Axis 3 Residence, Axis 4 Residence and Silicon Oasis Masjid Bus Stop 2 within walking distance.

DSO as an Investment Location: DSO is one of Dubai's most tenanted technology communities, housing the UAE offices of IBM, Microsoft, Oracle, HP, Dell, SAP, Cisco, Nvidia, Intel and Qualcomm. This anchored corporate tenant base drives sustained rental demand and industry-leading occupancy rates above 90% year-round. The 2029 metro connection is expected to be a significant catalyst for price appreciation, given that metro-adjacent areas in Dubai have historically outperformed non-metro peers by 15–25% in capital value growth.

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Architecture — Three G+8 Towers, Rooftop Amenity Decks

Each of the three Topaz towers rises G+8 storeys (ground floor plus 8 residential floors), providing a mid-rise, community-scale building that avoids the anonymity of high-rise towers while still delivering a comprehensive amenity infrastructure. The three towers are positioned within walking distance of each other on 90th Street, sharing the same developer management and community identity.

Building specification highlights:

• Solid beech wood main entrance doors
• Luxury fitted bathrooms
• Fully equipped kitchens with all white goods included (refrigerator, cooker with hood, washing machine, microwave)
• Built-in wardrobes in all bedrooms
• 6 high-speed elevators per tower
• Central air conditioning throughout
• Covered / underground parking (one allocated space per unit)

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Amenities — Rooftop Pool, Gender-Separated Gym, Sauna and Steam

Topaz Residences is equipped with a rooftop amenity deck on each tower, delivering a comprehensive leisure and wellness package:

Pool & Water:

• Rooftop swimming pool with sundecks
• Children's pool

Fitness & Wellness:

• Rooftop gymnasium (gender-separated — dedicated men's and women's health clubs)
• Sauna (men's and women's facilities)
• Steam room (men's and women's facilities)
• Jacuzzi / spa

Family & Recreation:

• Children's play area / kids' playroom
• Landscaped gardens (up to 10% of development area)

Security & Infrastructure:

• 24/7 security
• CCTV / video surveillance throughout
• 6 high-speed elevators
• Central air conditioning
• Covered parking (one space per unit)
• Maintenance and cleaning services
• Concierge service

The rooftop placement of the pool and gym delivers DSO panoramic views — particularly impressive from Towers 2 and 3 given their slightly larger footprints.

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Unit Types & Sizes — Exclusively 1-Bedroom Apartments

Topaz Residences focuses entirely on one residential typology: spacious 1-bedroom apartments. This undivided focus on a single unit type creates a homogeneous tenant and owner profile and simplifies building management.

Unit specification across all three towers: | Item | Detail | |---|---| | Bedrooms | 1 | | Bathrooms | 2 | | Layout | Open-plan living/dining + kitchen + 1 bedroom + 2 bathrooms | | Balconies | 1–2 per unit | | Kitchen | Fully fitted with white goods | | Storage | Built-in wardrobes | | Parking | 1 allocated covered space |

Size ranges (vary by tower and sub-type): | Tower | Size Range (sqft) | Notes | |---|---|---| | Tower 1 | 764 – 850 sqft | Smaller footprint; earliest handover | | Tower 2 | ~1,000 – 1,194 sqft | 200 units; most commonly marketed | | Tower 3 | ~850 – 1,140 sqft | Sizes broadly consistent with Tower 2 | | FAM Properties FAQ | 1,078 – 1,140 sqft | May reflect Towers 2/3 premium units |

Current Resale Pricing (2025–2026):

• Asking prices: AED 700,000 – AED 850,000+
• DLD transaction average: AED 861,433 per unit
• Price per sqft: approximately AED 770 – 960/sqft (Tower 1 transactions); up to AED 956/sqft recorded in February 2026 data
• Launch pricing (Tower 2, 2017): AED 691/sqft (~AED 708,695/unit)

Note: DSO-wide average price per sqft of ~AED 1,339 (2025) reflects newer, higher-specification projects and is not directly comparable to the Topaz Residences vintage pricing.

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Investment Summary — 8–10% Yields Anchored by Tech-Sector Tenants

Topaz Residences is a fully stabilised, income-generating investment asset in one of Dubai's highest-yielding mid-market communities.

Rental Performance:

• Developer and agent-cited ROI: 8–10% gross for 1BR units at Topaz
• DSO area average for 1BR: 7.3% (Bayut / DLD data); broader DSO range 6–9%
• Annual rent (2025 asking prices):
  • Topaz combined: AED 60,000 – AED 92,000/year (average ~AED 69,336 per Bayut)
  • Topaz 2 specifically: AED 70,000 – AED 90,000/year (average ~AED 74,822)
  • Topaz 3 specifically: AED 73,000 – AED 78,000/year
  • Upper-end listings at AED 92,000–97,000/year

Occupancy:

• DSO occupancy rates: 90%+ year-round
• Anchored by tech-company employees of IBM, Microsoft, Oracle, HP, Dell, SAP, Cisco, Nvidia, Intel and Qualcomm — one of the most stable professional tenant pools in Dubai

Capital Appreciation Catalyst:

• DSO Metro Station planned opposite Fakeeh University Hospital, targeted for 2029 completion
• Metro-adjacent areas in Dubai have historically delivered 15–25% price outperformance vs. non-metro comparables
• Current Topaz pricing at AED 770–960/sqft represents a significant discount to newer DSO developments at AED 1,339/sqft average — providing catch-up upside as the metro approaches

Freehold Title:

• Available to all nationalities
• DLD-registered freehold designation

Practical Notes:

• No dedicated DSO metro currently — public transport is bus-served (RTA X25 route)
• Nearest metro: Centrepoint station, ~15 minutes by car
• Central A/C building — chiller fees apply (factored into service charge)
• GGICO's dominant DSO presence (~34% of supply) provides institutional-grade community management