Fortune Group commences work on AED 4 billion Burj Al Alam

Senior officials of Fortune Group said after a foundation stone laying ceremony at the project site that the soil testing contract for the project, schedules to be completed by 2010, has been given to Fugro International.

The ground breaking ceremony which was held at the project location in Business Bay was also attended by Ahmed Hashim Khoory, Hashim Al Dabal CEO - Business Bay, Shahab Lutfi Business Development Director - Business Bay, David Abood Business Development Manager - Business Bay and Khalid Abdull Zainal Head Sales and Distribution - AMLAK.

Burj Al Alam is the flagship project of the Fortune Group and the tower is dedicated to commercial space, adding value to Dubai's growing reputation as the world-class hub for business. Of its total 108-storeys, 74 storeys will be dedicated to offices, while 27-storey will be taken up by hotels and service apartments. The balance will be covered by retail spaces.

Speaking at the ground breaking ceremony, Mr. Syed Muhammad Ali, CEO, Fortune Group said,

'Burj Al Alam is a landmark project which will add significant value and appeal to the lifestyle that Business Bay will offer. We have believed in working with best-of-the-breed project partners so that we ensure timely completion of the project without compromising on quality.'

Commenting on the project, he added, 'Tipped to be the tallest and the most incredible edifice, Burj Al Alam will reflect Dubai's growing eminence in the world of business. The project will offer investors a high life in the heart of the Middle East's global business hub.'

The prestigious project will cover a total built-up area of over 4 million sq. ft. and the iconic tower is strategically designed to accentuate the view of Business Bay creek in the south and the Burj Dubai super high rise in the north.

Speaking at the ground breaking ceremony, Mr. Shahab Lutfi, Business Development Director, Business Bay said 'Dubai's is fast emerging as a business powerhouse, with real estate being one among the biggest beneficiaries of Dubai's trail-blaze growth. The Business Bay, backed by the strategic vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, is set to become one of the major contributors to this unprecedented growth.'

He further added, 'Fortune Group has to its credit some of Dubai's pioneering developments including the world's tallest commercial tower. It is a pleasure for us to have Fortune Group as part of Business Bay.'

Burj Al Alam will illustrate architectural ingenuity, adding a new dimension to Dubai's eye-catching cityscape. More importantly, it will back the economic initiatives of the government by creating the most futuristic infrastructure for businesses to operate and grow.

The building features a 6-storey 'crown' that consists of a sky garden, Turkish bath, club facilities and a helipad. Each office floor plate is divided into six 'petals', allowing flexibility for mixed tenancy planning. An extensive podium design with speciality design retail spaces featuring luxury designer brand will serve as first point of approach for pedestrian traffic.

Fortune Group has tied up with Amlak to offer finance facilities of up to 90% to investors. Finance packages will be made available to UAE nationals, residents as well as GCC and other overseas investors. The tenure will vary over a span of a maximum period of 25 years based on the eligibility criteria.

The Fugro Group of companies is an international consulting firm that provides accurate and economical measurements and interpretations from soil, water and air together with creative solutions to match Client requirements. Operating on a worldwide scale, the Group employs more than 8000 people in over 275 offices in 50 countries located in Europe, the territory of the former USSR, North and South America, Middle East, Australia and Africa. Headquartered in Leidschendam, Netherlands, Fugro is the world's largest multi-disciplinary company in the field of survey, geotechnics and environmental investigations.