Following the recent announcement that YOO - the brainchild of world renowned designer Philippe Starck and property developer John Hitchcox - is to make its first venture into the GCC through a partnership with Galadari Investment Office (GIO) and the much anticipated formation of the G Tower, the team have today stated their reasoning behind this landmark move.
YOO by Starck, which will provide complete concept design for the interiors of the G Tower - including all the apartments and amenity spaces as well as landscaping the pool area - has thus far designed properties in London, Sydney, Buenos Aries, Hong Kong, New York, Toronto, Copenhagen and Miami.
However, despite the construction boom that is currently underway in Dubai, the team at YOO by Starck was a little apprehensive before entering the regional market.
“Dubai is undoubtedly one of the world’s fastest growing and therefore most fascinating cities,” said John Hitchcox, Chairman of YOO.
“However, as someone with an acute visual awareness, I have noticed that many of the new buildings here lack a genuine aesthetic value and developers are therefore relying on marketing gimmicks and cut-price sales to lure investors.”
“Philippe and I didn’t want to settle for anything less than the best and the commitment and professionalism of the GIO team assured us that the G-tower was the right choice.”
Rashid A W Galadari, Chairman of GIO, elaborated on the reasoning behind the partnership: “At the risk of sounding arrogant, I believe that upon completion the G Tower will truly be one of “the Middle East’s most appreciated architectural marvels.”
“Through working with Vacha and YOO, GIO is redefining the art of living in the UAE, incorporating a ground breaking design ethos with a level of finish that is as yet unheard of here,” Galadari added.
“I am therefore more than confident that, unlike several of our competitors in the property development sector, we will not have to use deceptive marketing tools and that the G Tower will ‘sell itself’ to shrewd investors who appreciate excellence in design,” he concluded.
About GIO
The Galadari Investment Office (GIO) is the luxury real estate development subsidiary of GALVEST, the personal holding group of Rashid Abdul Wahab Galadari. Following the entrepreneurial lineage of the Galadari Group, Rashid Galadari established GALVEST to diversify and grow his portfolio of businesses.
GALVEST is the latest venture of the renowned Galadari Group, a family-owned business based in Dubai, UAE. Established more than 100 years ago, the Galadari Group has remained in synch with emerging economic trends and opportunities and managed to evolve into one of the region’s most prominent commercial groups. Its activities range from having built 5-star hotels in Dubai - such as the Hyatt Regency - in 1979, to having high profile consumer brands sold through retail outlets. GALVEST is active in industries including automotive, media, and hospitality, and is aggressively pursuing global investment opportunities.
GIO’s portfolio ranges from residential property management to property investment leasing, sales, land and property acquisition and development. Established in 2005, GIO aims to transform the property landscape in the region by developing a series of projects that transcend the norm and break conventional barriers. GIO wants to be recognised as a truly international property brand that delivers world-class service to a rapidly growing market.
GIO’s advent into the market is an indication of the Galadari Groups’ vivid foresight and planned response to changing market conditions and shifting consumer needs.
The flagship project currently under development is the G-Tower, a 280m high, 45-storey Onyx tribute to opulent living in ultimate luxury.
About Yoo
YOO is a design-focused property development company led by dynamic personalities: Philippe Starck and John Hitchcox. Starck, the most celebrated and commercially successful designer in the world, brings to YOO an approach that is about thinking, designing and better living while Hitchcox, one of Europe’s most innovative design-based property developers, brings unparalleled knowledge to YOO’s collaborations.
More than just a design blueprint for the new “design” way of living, YOO has become a byword for the best in individual contemporary design, with a firm grasp of the new and innovative, bringing quality design to residential projects. YOO has many completed developments and is currently working on projects all over the world, including Australia, Asia, Europe, North and South America and the Middle East. Projects have been pre-sold at faster rates and higher values, proving the appetite and appreciation for good quality design and lifestyle oriented developments. For more information, please visit www.yoo.com.
