NEVER BUILT: FORTUNE CRYSTAL TOWER, 19F Com [Archive]

Krazy

January 2nd, 2007, 03:19 PM

Fortune Group unveils third project in Business Bay

Fortune Group, one of the leading real estate majors in Dubai's freehold space today unveiled a new commercial tower - its third project in Business Bay - AED 136 million Crystal Tower, which will offer 300,000 square feet of office space in modern ambience complete with dedicated retail and recreational areas.

http://www.ameinfo.com/images/news/0/34080-fortune.jpg
From left to right: Mr. Tahir Sirwar (AEIB), Mr. Syed Mohammad Ali (CEO - Fortune Group) and Mr. Bassel Mukaddam (Al Hai and Al Mukaddam).

Commenting on the launch of the Group's third freehold project in Business Bay and eighth in Dubai, senior officials said work on Crystal Tower has already started at the project site with the ground breaking ceremony held today.

Announcing Crystal Tower, Mr. Syed Mohammad Ali, CEO, Fortune Group said: 'The launch of Crystal Tower endorses our belief in the strong earnings and investment potential of commercial office space in Dubai. The project comes at a time when the demand for commercial space is continuing to increase exponentially with the unprecedented growth in the regional business and economy.'

He said Crystal Tower will be spread over an area of 300,000 square feet and will rise 19 storeys up from the ground. 'Our decision to launch the project in Business Bay is based on our confidence in the prime location of the development which has already attracted considerable attention ever since its announcement. Business Bay provides better proximity to the new business district of Dubai flanking the Sheikh Zayed Road and also comes with modern ambience and facilities,' Mr. Mohammad Ali said.

The launch of the ground plus 19 storied Crystal Tower follows tremendous investor enthusiasm to the Group's projects, including the world's tallest commercial tower - Burj Al Alam.

Crystal Tower will boast of hi-tech office concepts along with a range of luxury offerings which will include, advanced communication facilities, state-of-the art conferencing systems, broadband internet connection, comprehensive business support services, a well appointed venue for conferences and meetings, a swimming pool, a fully equipped gymnasium with a sauna and Jacuzzi apart from retail space.

Commenting further on the new project, Mr. Syed Mohammad Ali, CEO - Fortune Group said, 'Crystal Tower will be on the waterfront and with cutting-edge facilities will present a compelling rationale for investment for local, regional and international corporations. It will complement Dubai's vision of offering hassle-free, business-friendly destination with unrivalled amenities.'

Mr. Ali said the project will be complete by 2008. The project is designed by Architectural and Engineering Innovations Bureau (AEIB). AEIB has successfully undertaken a wide spectrum of projects ranging from villas to multi-block developments, public utilities development, township development, highways, bridges and rail transportation infrastructure in different parts of the world. The soil investigation contract for the Crystal Tower has been awarded to Al Hai and Al Mukaddam. DJ Jones has been appointed as the cost consultants and project managers for The Crystal Tower.

'We are confident that the project will set a new benchmark in world-class commercial office space in Dubai and will have facilities that are conducive to supporting business growth. Being in Business Bay also adds value to the positioning of the project as a premium product,' Mr. Ali added.