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Fortune ties up with Amlak to offer finance for Dh4b Burj Al Alam
15-Apr-2006



Mr. Ahmed Khoory, Chairman – Fortune Group (left) and Mr. Mohammed Al Hashimi, MD & CEO – Amlak Finance

In a milestone announcement, leading Dubai-based real estate development company, Fortune Group, today announced that it has exclusively tied up with Amlak Finance (PJSC), the UAE's leading Islamic home finance company to offer financing options for their latest venture, Burj Al Alam – which is one of the world’s tallest freehold commercial towers being developed at an estimated value of AED 4 billion at Business Bay.

It is for the first time that Amlak will be offering finance facilities of up to 90% to investors of a commercial project being developed by a private developer. As part of the agreement, Amlak will structure finance options based on investor requirements for this path breaking project. Finance packages will be made available to UAE nationals, residents, GCC and other overseas investors. The tenure will vary over a span of a maximum period of 25 years based on the eligibility criteria. Speaking at a signing ceremony held today, Mr. Ahmed Khoory, Chairman – Fortune Group said : “As one of the tallest commercial towers in the world, Burj Al Alam will redefine the skyline of Dubai . It is only imperative that we partner with project associates who are leaders in their respective fields. This is what led us to Amlak and we are indeed delighted to have them as our partners in this ambitious foray of the Fortune Group.”

Mohammed Al Hashimi, MD & CEO of Amlak Finance said, “Amlak is delighted to have partnered with Fortune Group to provide finance for this mammoth commercial project. The uniqueness of Burj Al Alam consists not just in its height, but also in its aesthetic totality. Together with Fortune Group’s global expertise and Amlak’s track record with real estate financing in the UAE, customers will be able to avail the best in realty investment.” Rising beyond 480 metres, Burj Al Alam is designed to resemble a dazzling crystal flower with a total of 108 floors, out of which, 74 will be dedicated to offices and 27 storeys will be taken up by hotels and service apartments. Burj Al Alam will house the world’s highest hotel. The Fortune Group will commence construction of Burj Al Alam – The World Tower in 2006 and complete it by 2009.

Fortune Group’s current investments in Dubai real estate are valued at over AED 6.3 billion across six exclusive commercial and residential freehold projects. Other group projects are at Jumeirah Lake Towers , Palm - Jebel Ali, Dubai Sports City and International Media Production Zone. It has ambitious plans to expand overseas. Amlak Finance PJSC (Amlak) was established in November 2000 as a wholly - owned subsidiary of its still major shareholder Emaar Properties PJSC (Emaar).
 
Fortune, Amlak alliance to finance Burj Al Alam

16 April 2006

DUBAI — Dubai-based real estate development company, Fortune Group, yesterday announced that it has exclusively tied up with Amlak Finance (PJSC), the UAE's leading Islamic home finance company to offer financing options for their latest project, Burj Al Alam which is one of the world's tallest freehold commercial towers being developed at an estimated value of Dh4 billion at Business Bay.

It is for the first time that Amlak will be offering finance facilities of up to 90 per cent to investors of a commercial project being developed by a private developer.

This significant step along with preferred rates help prompt a hassle-free acquisition of prime commercial space by prospective investors at Fortune's Burj Al Alam project, as well as contributing to the growth of the market.

As part of the agreement, Amlak will structure finance options based on investor requirements for this path breaking project.
 
The Burj Al Alam tower building features a crown that consists of a sky garden, club facilities and Spa. The designs include a full curtain wall system, with three external curtain wall ‘petals’.

Burj Al Alam will offer offices and serviced apartments of uncommon beauty and style - as well as the most enticing array of amenities, recreation and pleasure.

The tower is strategically designed to accentuate the view of Business Bay Creek on the South side and the Burj Dubai super-high rise tower on the North. An extensive podium design, with specialty design retail spaces featuring luxury designer brands,
will serve as the first point of approach.

Serviced Apartments Facilities
200 Hotel Suites, Check in Sky Lobby
104 Service Apartment Units
6 F&B Outlets
Gym & Pool
Over 4300 Car Parking Spaces

Corporate Office Features
74 Storey Office Spaces

Office Floor Plate
Office floor plate varies from
3,243 m2 to 1,537 m2

Lifts
7 double decked passenger lifts for low rise offices
6 double decked passenger lifts for mid rise offices
6 double decked passenger lifts for high rise offices
7 local passenger lifts for Hotel and Serviced Apartments
4 goods lifts

acc. to malec's bbay plot map and its website, it occupies H15-H19.
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site plan:
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floor plans:
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no floor plans for this but, this bit is the hotel and the serviced apts. and im assuming that on top are restaurants, the spa and the obsevation deck.
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R
 
GREAT SHOPPING MALL

Shopping Mall Features: Over 300,000 sq.ft. of Retail Spaces

Guests will marvel at the array of pleasures that make this prestigious landmark a one-of-a-kind destination. A place singularly designed for comfort and enjoyment, brightened by a spirit of easy elegance. Burj Al Alam is distinguished by its lavish decor and breathtaking surroundings - plus the caring, exceptional service of our handpicked staff. At every turn, Burj Al Alam magically combines the elements of nature, landscaping, architecture and fine art into a striking masterpiece.

The Burj Al Alam will boast of the perfect setting and a full complement of resources to satisfy the needs of the most discerning guest.




THE HIGHEST HOTEL

Luxury. Refined. Redefined.

The Highest Restaurant
Symphony of delightful dining options.
A dining experience at our restaurants is a blend of pleasing sensations; whether you prefer elaborate candlelight dinners or light snacks on
a sun-drenched patio. The pleasures of our diverse cuisine, breathtaking views and impeccable service are enhanced and personalized in the beautiful private rooms of our celebrated restaurants.
The wide choice at Burj Al Alam ensures you'll find the perfect surroundings and choice of cuisine to satisfy your every dream.

Experience pure joy and elaborate pampering at our exclusive roof top spa.
It is here where your highest expectations will be met. At this luxurious oasis, personalized spa programs, services and treatments combine to offer an array of well-being pursuits. Soothing massage therapies, skin and body treatments drawn from Western and Eastern principles and expert hair and nail services. Signature treatments utilizing plants and minerals characterize the range and variety of treatments and services offered at the Spa. And your body, mind and spirit will love you for it!

R
 
LUXURY. REFINED. REDEFINED.
The Burj Al Alam tower building features a crown that consists of a sky garden, club facilities and Spa. The designs include a full curtain wall system, with three external curtain wall ‘petals’.

Burj Al Alam will offer offices and serviced apartments of uncommon beauty and style - as well as the most enticing array of amenities, recreation and pleasure.

The tower is strategically designed to accentuate the view of Business Bay Creek on the South side and the Burj Dubai super-high rise tower on the North. An extensive podium design, with specialty design retail spaces featuring luxury designer brands,
will serve as the first point of approach.

R
 
SPA. HEAVENLY. LITERALLY.

Experience pure joy and elaborate pampering at our exclusive roof top spa. It is here where your highest expectations will be met. At this luxurious oasis, personalized spa programs, services and treatments will combine to offer an array of well-being pursuits. Soothing massage therapies, skin and body treatments drawn from Eastern principles, expert hair and nail services, and signature treatments utilizing plants and minerals will characterize the range and variety of treatments and services offered at the Spa. And your body, mind and spirit will love you for it!

R
 
grr

"everyday i love you less and less"

i ove the design, but the name ruins this tower. im begining to hate it because of it.

it just doesnt work.

please rename it. anything will do. even "mr mohamed abdullah tower" wuld be better.
 
wow! Just amazing! :D

I like the idea of BAA II :D
 
The world's tallest commercial tower set to change the skyline of Dubai

In a city of superlatives, it seems only natural for one of the world's tallest commercial towers to be built in Dubai.

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Burj Al Aram.

The Burj Al Alam is the latest and grandest achievement of Fortune Group, a leading Dubai-based contracting and investment firm, and will stand at 108-storeys (482 metres) and valued at an estimated Dh4 billion (US$1.1 billion). Come 2009, Dubai and the world will have a new reason to look up…way up!

New York has the Empire State Building. Taipei has Taipei 101. Chicago has Sears Tower. But Dubai has it all. Standing majestic beside its neighbours at Dubai's Business Bay, the Burj Al Alam - Arabic for The World Tower - will be a steel and glass testament to Dubai's unequivocal 'never say never' approach to economic progress. The biggest, the best, the fastest have all paved the way for the inevitable 'tallest' and, as HH Sheikh Mohamed bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai once said, 'Nothing is impossible if there is a will to succeed.' And, the Burj Al Alam is indeed an icon symbolizing that anything is possible in Dubai.

Today's Dubai is an economic powerhouse offering an attractive and fertile platform for investment.

'We believe Dubai offers investors a distinctly unique business opportunity. It is an opportunity that will not only pay high dividends but gives investors the chance to be part of this emirate's historical growth. In only 36 years, Dubai and the UAE have shed their third world status and catapulted themselves to the forefront of an increasingly competitive global arena. As the name behind an amazing project such as the Burj Al Alam, it is an honour to be living its history as well as contributing to its future,' states Ahmed Khoory, Chairman, Fortune Group.

The Burj Al Alam and the numerous projects and developments sprouting up all over the emirate further compound the growing reality that Dubai is indeed a force to be reckoned with. It is this progress and conviction in this emirate's past, present and future that prove Dubai is secure and economically viable with the majority of investors enjoying never-before-imagined Return On Investments.

'It is this phenomenal success that inspired the Fortune Group to create the Burj Al Alam,' says Syed Muhammad Ali, CEO, Fortune Group. 'A beautiful and towering testament to this emirate's drive to succeed, the Burj Al Alam is not just the tallest building in the world. It is not just an iconic landmark in a landmark city. The Burj Al Alam is a legend. It symbolizes a belief, an endorsement and of course, a financial investment in this great nation. It is this drive to succeed and the presence of investments comparable to the Burj Al Alam's that represent a Dubai that means business. The Burj Al Alam's physical composition directly reflects the emirate's growing trend towards global commerce and industry perfectly complimented by its thriving tourism and retail economies. The exterior façade of the Burj Al Alam is designed to represent a majestic crystal flower opening its petals up to the sun, paying homage to its merciless rays. This mirrors the very core and essence of this emirate's rich culture and embedded traditions.

The progression and escalation of Dubai's economy to a commercial hotspot and the jewel of Arabia is poetically reflected in the Burj Al Alam's interior…a flower shooting upwards to grandeurs beyond imagination. The 108-storey climb begins with an avenue of retail outlets on the ground levels leading up to 74 floors dedicated to its corporate residents with the remaining number housing the world's highest situated hotel, spa, roof garden, restaurant, and viewing deck. Offering all the modern amenities and pleasures intrinsic to Dubai's elitist way of life and sweeping views of Business Bay Creek on the tower's South side with the Burj Dubai to its North, the Burj Al Alam promises the latest and greatest in what Dubai has to offer.

So, with life in Dubai increasingly surpassing all expectations and a corporate world grabbing the attention of international heavyweights, the advent of a corporate address was inevitable and critical. Here wealth is not only measured in fiscal terms. In contrast, Dubai's true currency lies in its innovative and progressive leaders coupled with the wealth and strength of willing investors and the minds and expertise of its citizens. Enter Business Bay, Dubai's 'city within a city' where deals will be signed and futures will be secured. This is the point of no return. The step that means Dubai has no signs of stopping. 'Business Bay is Dubai's answer to Manhattan. Our aim is for Business Bay to be the corporate pulse of Dubai and the immense development of this project means that in terms of Dubai's growth and potential, there is no end in sight,' says Shahab Lutfi, Business Development Director, Business Bay. 'With corporations such as the Fortune Group and others like them,' he goes on to say, 'Business Bay has been given a strength and importance beyond comparison. Nowhere in the world can you find a business model like Dubai. It is the impossible. The impossible dream turning into a fluid reality for an enduring nation and endearing people.'

A place where anything is possible and possibilities are endless, and all this amidst pristine coastlines and beaches and the world's best shopping and entertainment. The roads of Dubai lead you to a very, very comfortable way of life and a spectacularly thriving business on the 74th floor of a world icon. This is what dreams are made of.
 
Gotta love that last line.....

"This is what dreams are made of"

Just amazing! :D :D :D
 
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