53% of business objectives for 2007 already achieved says GIO

The 280m high, 45-storey G-Tower will be located in the City of Arabia, and combines revolutionary exterior architecture by Alex Vacha with interiors designed by Yoo - the brainchild of Starck and property developer John Hitchcox. Yoo will be providing complete concept design for the interiors of the tower- including all 250 apartments, amenity spaces as well as landscaping of the pool area.

"The interest we're seeing in the G-Tower only confirms what we've known since conceptualizing this project- you cannot go wrong with a one-of-a-kind development that combines entrepreneurial creativity, financial discipline and the genius of the most celebrated designer in the world, Philippe Starck," said Rashid AW Galadari, Chairman, GIO.

Sales for the G-Tower and Yoo by Starck may have only begun in September 2005, but GIO has already superseded its targets, and decided to freeze the remaining 40% of the units on sale, with groundbreaking to proceed as scheduled in January 2007. The remainder of the tower will be sold in phases post-groundbreaking, on an invitation-only basis.

"When we first announced the G-Tower, we had a one, three and five-year plan. It is heartening to note that by concentrating our efforts on this one project and following these plans, we are poised to deliver not just another "classy development" but a development that surpasses expectation."

"Our strong belief in the focus factor and our adherence to it has ensured this success and we will continue to utilize this strategy moving forward," he added.

As for GIO's next branded projects, the next is scheduled to be announced in Q2 2007. Land acquisitions and detailed initial designs have already been completed.

"GIO's commitment to building homes that offer an unsurpassable level of luxury and provide the very best in contemporary, high-end living to today's discerning home owner remains steadfast," concluded Galadari.