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Fortune Group recieves overwhelming response for Fortune Bay

- October 28, 2006, 11:04 pm

Reflecting strong investor confidence and robust demand for freehold commercial space in Dubai, leading real estate development company, Fortune Group, today announced that over 50 per cent commercial space at Fortune Bay - their seventh project in Dubai, has been sold out in just 10 days from commencement of sale.

Senior officials of Fortune Group said, the AED 350 million landmark development at Business Bay received an overwhelming response attracting a diversified set of regional investors.

Launched on October 8 2006, official sale of commercial space at the project is now on. The launch of the 19-storey Fortune Bay followed the historic launch of Burj Al Alam - the world’s tallest commercial tower also coming up at Business Bay. Fortune Bay will offer a perfect setting amidst a multitude of leading international and blue chip corporations, strategically located within the emerging business district.

Terming the investor response as phenomenal, Mr. Ahmed Khoory, Chairman, Fortune Group said, ‘We at Fortune Group are delighted with the response we have received for this project. We adopted a focused marketing and pricing strategy which contributed towards the strong investor response. The sell out of over 50 per cent of the project in a record ten days from commencement of sale of commercial space clearly indicates the ever-increasing demand for freehold commercial properties.’

Fortune Bay 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 on the project, Mr. Syed Mohammad Ali, CEO, Fortune Group said, ‘Fortune Bay will offer investors unrivalled features and state of the art facilities. The free hold offices at Fortune Bay will comprise high grade office blocks and will be home to leading international corporations. Fortune Bay is the realization of a vision in Dubai’s new era of business and lifestyle choices. The project is scheduled for completion by the end of year 2008.’

Business Bay is tipped to be the region’s business capital and once complete will be a city within a city. Covering a total area of 64 million sq. ft., this new master development will host a number of commercial and residential towers. The ambience will be designed to add to the magnificence of the Business Bay which will provide an environment, which is conducive for the growth of business from all over the world.

Fortune Group’s current investments in Dubai real estate is valued at close to AED 7 billion across seven exclusive commercial and residential freehold projects. An integral part of Dubai’s freehold market, the Fortune Group has developed the most innovative residential and commercial spaces in the Emirate. Burj Al Alam, the world’s tallest commercial tower is the Group’s most recent and significant project development coming up at Business Bay. Other group projects are located at Jumeirah Lake Towers, Palm - Jebel Ali, Dubai Sports City and International Media Production Zone.

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