GP One Residence
From AED 1,275,000 (portal) · developer AED 1.52M
Dubai developer profile
Apartments from AED 1.29 million in Business Bay to penthouses at AED 8.25 million in Downtown — with two completion dates already gone by and no payment schedule on any project page.
GINCO Properties is the development arm of GINCO Group, a Dubai company that dates its own history to 1975 and to contracting rather than to property sales. The group was established by its chairman, Mr Gheyath Mohammad Gheyath, and its About page says so in one line: “our history of contracting is the cornerstone of our success in property development.” That is not marketing filler — it is the most useful fact on the site, because it tells you the company came to development from building for others.
The leadership is named rather than implied: Eng. Jamal Abdelfatah as Managing Partner, Mr Gheyath Mohammad Gheyath as Chairman and Eng. Masood Gheyath as Managing Director. The office is at Emaar Square, Building 6, in Downtown Dubai, and the group describes itself as having delivered projects “across the world” through its contracting work. GINCO Properties itself, the entity that sells the apartments, is presented as a member of the group rather than as the group.
The portfolio is small and concentrated: four projects with their own pages, all of them residential, all of them in Dubai, in three places — Downtown Dubai, Business Bay and Dubai Hills Estate. GP ONE Residence in Downtown has 453 apartments from studios to four bedrooms, launched in July 2024 at a reported project value of AED 1.2 billion. VYB in Business Bay has 168 one- and two-bedroom apartments from AED 1.29 million. Privé Residences in Dubai Hills Estate has 226 one- and two-bedroom apartments and completed to an October 2023 target. Velor, the newest, is 29 four- and five-bedroom penthouses from AED 8.25 million, due in Q4 2027. That is 876 apartments in total, which is a mid-sized single building for most Dubai developers.
The price range is unusually wide for a company this size: about AED 1.29 million at the bottom of VYB to AED 8.25 million at the entry to Velor, a spread of roughly six and a half times. It reflects the portfolio rather than a strategy — a mid-market Business Bay tower, a large Downtown building, a family estate building and a 29-unit penthouse project are four different products with four different buyer profiles. Ginco publishes a starting price for three of the four; Privé has none.
On delivery, the record is short and mixed rather than bad. Privé Residences was completed against its October 2023 date, which is more than many Dubai developers of the same size can say. VYB’s page still gives September 2025 as its completion date, which has passed; several listing sites describe the building as ready, but Ginco has published no handover announcement that we can find. GP ONE Residence is targeted at Q1 2027 and Velor at Q4 2027. Two delivered or near-delivered buildings out of four is thin evidence either way — but it is evidence, and it is better than a launch render.
What the site does not give you is detail. There are no floor plans without a download request, no amenity schedules, no service-charge estimates and no payment tables on any of the four project pages. Each one reduces the plan to a single line — “pay 20% to book” at GP ONE Residence and Velor, “pay 10% to book” at VYB — and stops. For a developer whose parent has been in construction for five decades, that is an oddly quiet website, and it means the work of comparison falls to you and your lawyer rather than to the brochure.
All four are written up in full, with the developer’s figures, the portal’s figures where they differ, payment terms as published, completion dates and the questions to settle before you reserve.
GP ONE Residence, which most of the market calls One Residence, has been quoted at about AED 1.2 million in launch coverage from July 2024, at AED 1,275,000 on its portal listing, at AED 1.52 million on Ginco’s own page and at AED 1,525,000 on a third-party portal. Some of that is the passage of time and some of it is a different unit type, but the gaps are large enough — AED 245,000 between the developer and the portal — that a buyer should ask which unit each number describes before treating any of them as an entry price.
Privé Residences is dated October 2023 and VYB September 2025. One of those buildings is completed and the other is described as ready by listing sites, but neither project page has been updated to say so. That is a website problem until it is not: if you are buying either as ready stock, the handover certificate, the title deed and the service-charge history are the documents that matter, not the developer’s page. If VYB is not handed over, you need to know what the revised date is and why.
Ginco gives the location as “Downtown District, UAE”. Several listing portals and agency sites place Velor in Business Bay. The districts share a border along Sheikh Zayed Road, so both can be technically defensible descriptions of a plot line — but at AED 8.25 million for the cheapest of 29 penthouses, the district on the title deed is a price variable, not a footnote. Ask for the plot number.
“Pay 20% to book” appears on the GP ONE Residence and Velor pages; “pay 10% to book” on VYB. None of the four projects has a published instalment schedule, a milestone table, a handover percentage or a post-handover tail. Launch coverage of GP ONE Residence in 2024 described a 50:50 plan, which does not match a 20%-to-book headline. On a AED 8.25 million penthouse, 20% is AED 1.65 million paid before a single milestone is demonstrated — ask for the schedule that sums to 100% and for the clause in the SPA that says the same thing.
GINCO Group has been building since 1975, and its own site is unusually direct that contracting is where its development confidence comes from. That is a genuine advantage on delivery and a genuine limitation on track record: GINCO Properties has four projects, two of them finished or nearly so, and a third and fourth not due until 2027. A buyer is not betting on a launch story here — which is the good part — but is also not buying from a developer whose delivery record has been tested across a downturn.
The main portal carries one Ginco project, One Residence, listed in October 2024 and priced from AED 1,275,000. VYB, Velor and Privé are not on the portal’s developer page at all. That tells you the company sells largely through its own channel and appointed brokers rather than through portal inventory — and it means the market price you can see online is not the whole market. Compare against achieved sales in the same buildings, not against listing headlines.
The buildings are not the risk here. The disclosure is.
The property development arm of GINCO Group, a Dubai company founded in 1975 by chairman Mr Gheyath Mohammad Gheyath. The group began in contracting; GINCO Properties develops and sells the residential projects. Its office is at Emaar Square, Building 6, Downtown Dubai.
Four with their own pages: GP ONE Residence in Downtown Dubai, VYB in Business Bay, Velor in Downtown District and Privé Residences in Dubai Hills Estate. That is 876 apartments in total, of which 29 are penthouses at Velor.
Privé Residences in Dubai Hills Estate is complete, against an October 2023 target. VYB in Business Bay was targeted at September 2025, a date that has passed, and listing sites describe it as ready, but the developer has not published a handover announcement. GP ONE Residence is due in Q1 2027 and Velor in Q4 2027.
VYB from AED 1.29 million, GP ONE Residence from AED 1.52 million and Velor from AED 8.25 million, all on the developer’s own pages. The portal lists One Residence from AED 1,275,000. Ginco publishes no price for Privé Residences, which is widely listed as sold out.
Yes. GP ONE Residence is the developer’s name; One Residence is the shorter version used by most portals and by the press coverage at launch in July 2024. Check that the name on your reservation matches the name on the sale contract.
The published position is one line per project: 20% to book at GP ONE Residence and Velor, 10% at VYB. No instalment schedule, milestone table or post-handover tail is published for any project, and launch coverage of GP ONE Residence described a different 50:50 structure. Ask for the printed schedule.
Downtown Dubai and Downtown District, Business Bay, and Dubai Hills Estate — three districts, all inside Dubai. There is no Ginco project in Ras Al Khaimah, Abu Dhabi or the northern emirates on the developer’s site.
The group is not new — GINCO Group dates from 1975 and built its reputation in contracting. The development arm is newer: four residential projects, two of them completed or near completion, and a portfolio that is still small enough to read in an afternoon.
It has a long contracting history behind it, one completed building delivered to date and a concentrated portfolio in districts that hold their value. The reservations are that it publishes almost no plan detail, gives payment terms as a single percentage, has two project pages whose completion dates have passed, and describes Velor’s location differently from the estate agents selling it. We check the contract, the escrow, the title and the service charge before advising a client to reserve.
gincoproperties.ae — written as GINCO Properties, with project pages for GP ONE Residence, VYB, Velor and Privé Residences, plus an about page and a contact page. The domain gincoproperties.com is a parked page and is not the developer.
Tell us which project and budget. We will send the current price list, the payment schedule as written in the SPA, the escrow and RERA details, the latest construction or handover position, and our honest read on the rents in that district.
Sources and verification. Company history, leadership, project list, unit counts, unit mix, starting prices, payment wording and completion dates were checked against GINCO Properties’ official site (gincoproperties.ae) in October 2026. Committed to publication: the developer gives no instalment schedule for any project, only a booking percentage; GP ONE Residence is quoted at four different prices across the developer, the portal and launch coverage; Privé Residences and VYB carry completion dates that have passed without the pages being updated; Velor’s location is given as Downtown District by the developer and Business Bay by several listing portals; and Privé has no published price at all. Figures marked portal-listed are not developer prices. Amenity and architect details attributed to press or third parties are described as such and have not been treated as confirmed. Nothing here is a valuation, a promise of return or appreciation, or a statement that any unit is available.