Olimpico Residences

TL;DR: Olimpico Residences is a contemporary G+5 low-rise residential development by GGICO (Gulf General Investment Company) located in International City Phase 2 (Warsan 4), offering thoughtfully designed studios and one-bedroom apartments at accessible price points starting from AED 390,000. With a pet-friendly policy, five ground-floor retail outlets, and strong projected rental yields of 8-10% — among the highest in Dubai — Olimpico Residences targets value-conscious investors and end-users seeking quality accommodation in one of Dubai's most rapidly evolving affordable communities. The project's low-rise design, competitive pricing, and location within the expanding International City Phase 2 masterplan position it as an attractive entry point into Dubai's freehold property market.

Location & Neighborhood Context

Olimpico Residences is situated in International City Phase 2, also officially designated as Warsan 4, which represents a significant expansion of Nakheel's original International City masterplan. Located in eastern Dubai between Dubai Silicon Oasis and Academic City, International City Phase 2 occupies a strategic position along the Dubai-Al Ain Road corridor, one of Dubai's primary arterial routes connecting the city center to Abu Dhabi and the inland emirates.

The broader International City area has established itself as Dubai's most accessible freehold community, attracting a diverse international population drawn by competitive rental rates, comprehensive neighborhood amenities, and improving connectivity. The Phase 2 expansion introduces modern building standards, improved infrastructure, and enhanced community planning that addresses many of the original development's density and amenity limitations.

Key destinations from Olimpico Residences include Dubai Silicon Oasis (5 minutes), Academic City and University Hub (7 minutes), Dragon Mart — the largest Chinese trading hub outside China — (10 minutes), Dubai Festival City (15 minutes), Downtown Dubai and Burj Khalifa (25 minutes), and Dubai International Airport Terminal 3 (20 minutes). The development benefits from access to the Mohammed Bin Zayed Road and Emirates Road, two of Dubai's primary highway arteries, providing rapid connectivity across the emirate.

The immediate surroundings are evolving rapidly, with new retail centers, mosques, parks, and community facilities being delivered as part of the Phase 2 infrastructure program. Existing amenities within International City include multiple supermarkets (including Carrefour, Lulu, and Nesto), a wide selection of restaurants and cafes catering to diverse cuisines, medical clinics, pharmacies, and educational facilities. The Global Village entertainment complex — a seasonal multicultural festival park attracting over 7 million visitors annually — is located within a 10-minute drive.

Architecture & Design Philosophy

Olimpico Residences adopts a G+5 (Ground plus five floors) low-rise architectural format that deliberately contrasts with Dubai's typical high-rise residential towers. This design decision reflects several practical and lifestyle considerations: low-rise buildings offer a more human-scale living environment with reduced dependency on elevators, lower service charges due to simplified mechanical systems, and a stronger sense of community compared to towers housing hundreds of units across 30-40 floors.

The building's contemporary architectural design employs clean geometric lines, a balanced fenestration pattern that maximizes natural light while managing solar heat gain, and a neutral color palette that integrates harmoniously with the broader International City Phase 2 streetscape. The ground floor is designed with a mixed-use approach, incorporating five retail outlets that provide convenience services to residents and contribute to the street-level activation that characterizes successful urban neighborhoods.

The structural design follows current UAE Building Code standards with reinforced concrete construction, ensuring durability and longevity in the Gulf climate. The building incorporates modern fire safety systems, adequate parking provisions, and accessibility features compliant with Dubai Municipality requirements. The low-rise format also contributes to structural efficiency, with reduced foundation requirements and lower overall construction complexity compared to high-rise alternatives.

Unit Types & Specifications

Olimpico Residences offers two primary unit types — studios and one-bedroom apartments — designed to maximize livability within efficient floor plans that appeal to both end-users and investors.

Studio Apartments range from 469 to 523 square feet, providing well-proportioned living spaces that incorporate sleeping, living, and kitchen areas within an open-plan layout. Studios are priced from AED 390,000, representing one of the most accessible entry points into Dubai's freehold property market. The studio configuration includes a full bathroom, fitted kitchen with integrated appliances, built-in wardrobes, and in select layouts, a balcony that extends the usable living space. These units are particularly attractive to young professionals, single occupants, and investors targeting the substantial rental demand from International City's working population.

One-Bedroom Apartments offer approximately 1,144 square feet of living space — exceptionally generous for the one-bedroom category and competing with two-bedroom units in many other Dubai communities by size. Priced from AED 490,000, these units feature a separate enclosed bedroom with en-suite bathroom, a spacious living and dining area, a guest bathroom, a fitted kitchen, built-in wardrobes, and a balcony. The generous proportions make these units suitable for couples and small families, as well as investors seeking the higher absolute rental income that larger one-bedroom units command.

All units feature contemporary finishes including porcelain floor tiles, painted walls, modern sanitary ware, split-system air conditioning, and pre-installed points for washing machines. Kitchen specifications include laminate or stone countertops, stainless steel sinks, and space for standard-size refrigerators and cooking appliances. Windows are double-glazed to enhance thermal and acoustic insulation.

Amenities & Community Features

Olimpico Residences provides a curated selection of amenities designed to enhance daily living without the excessive service charge burden that accompanies large-scale amenity packages in premium towers. Building amenities include a swimming pool, a gymnasium with cardio and strength training equipment, landscaped common areas, and dedicated parking spaces for residents.

A distinguishing feature of Olimpico Residences is its pet-friendly policy — a relatively uncommon provision in Dubai's affordable residential segment where many buildings and communities restrict pet ownership. This policy expands the potential tenant and buyer pool to include the growing number of Dubai residents with companion animals, a demographic that is typically willing to pay premium rents for pet-accepting accommodation.

The five ground-floor retail outlets are designed to provide essential convenience services — potentially including a grocery or convenience store, laundry service, cafe, and other daily-need businesses — that reduce residents' dependence on car trips for routine errands. This mixed-use element enhances the building's self-sufficiency and contributes to the walkable neighborhood environment that International City Phase 2 aims to create.

Security features include CCTV surveillance across common areas and entry points, access-controlled building entry, and intercom systems connecting units to the ground-floor reception area. A dedicated building management team handles maintenance requests, common area upkeep, and coordination with RERA-registered owners' association management.

Developer Profile — GGICO

GGICO (Gulf General Investment Company) is a publicly listed company on the Dubai Financial Market (DFM) with a diversified portfolio spanning real estate development, construction, industrial manufacturing, and investment management. Established in 1978, GGICO brings over four decades of operational experience in the UAE market, with a track record of delivering residential and commercial projects across Dubai.

As a publicly listed entity, GGICO operates under the regulatory oversight of the UAE Securities and Commodities Authority (SCA) and is subject to transparency requirements including audited financial reporting, corporate governance standards, and disclosure obligations. This regulatory framework provides purchasers with an additional layer of accountability beyond the standard RERA project registration requirements.

GGICO's decision to develop within International City Phase 2 reflects a strategic focus on the affordable housing segment — Dubai's fastest-growing market category driven by population growth, workforce expansion, and government initiatives to increase housing supply. The developer's understanding of this segment is evidenced in the practical design decisions at Olimpico Residences: efficient unit layouts, appropriate amenity levels, and competitive pricing that delivers genuine value.

Payment Plans & Purchase Process

Olimpico Residences offers developer payment plans structured to facilitate accessible property acquisition. Typical payment structures for off-plan units in this segment include a booking deposit of 10-20% of the purchase price, followed by construction-linked installments that align payments with development milestones. Some developers in the International City Phase 2 area offer post-handover payment plans extending 1-3 years after completion, allowing purchasers to generate rental income from the property while completing their payment obligations.

All transactions are registered with the Dubai Land Department (DLD) and regulated by the Real Estate Regulatory Agency (RERA), with purchaser funds held in project-specific escrow accounts as mandated by Law No. 8 of 2007. The DLD registration fee is 4% of the purchase price plus administrative charges. As a freehold development, international buyers can acquire units with full ownership rights — a significant advantage for expatriate investors and non-resident purchasers.

Investment Analysis & Rental Yield Potential

International City consistently delivers some of Dubai's highest rental yields, with the area averaging 8-10% gross rental returns — significantly outperforming premium communities such as Downtown Dubai (4-6%), Dubai Marina (5-7%), and Palm Jumeirah (4-5%). This yield premium reflects the combination of competitive purchase prices and strong rental demand from the area's large working population.

For Olimpico Residences specifically, a studio purchased at AED 390,000 generating annual rent of AED 28,000-35,000 produces a gross yield of 7.2-9.0%. A one-bedroom unit at AED 490,000 achieving annual rent of AED 42,000-50,000 delivers gross yields of 8.6-10.2%. These projections are supported by current market data from comparable properties in International City and Phase 2, sourced from RERA rental indices and listings platforms including Bayut and Property Finder.

The investment thesis for International City Phase 2 is further supported by several structural factors: Dubai's population is projected to reach 5.8 million by 2040 (from approximately 3.7 million currently), driving sustained demand for affordable housing; the area's infrastructure continues to improve with new road connections, retail facilities, and community amenities; and the relative affordability compared to newer competing communities ensures continued rental demand from budget-conscious tenants.

Dubai's favorable tax environment — with zero income tax, zero capital gains tax, and zero property tax — enhances net returns for investors. Service charges for low-rise buildings in International City are typically among Dubai's lowest, ranging from AED 8-12 per square foot annually, further supporting net yield calculations. The combination of high gross yields, low holding costs, and improving capital values makes Olimpico Residences a data-driven investment proposition for yield-focused buyers entering the Dubai property market.