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Sat 6 Jan 2007 12:00 AM

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Crystal Tower launched in Dubai’s Business Bay

The US $37 million project by Fortune Group is expected to complete by 2008

Dubai based real estate developer, Fortune Group, has unveiled a new US $37 million (AED136 million) commercial tower – its third project in Business Bay.

Crystal Tower will span over an area of 27,870m

and consists of offices and retail and recreational areas.

The groundwork on site has already begun and the project will be completed by 2008.

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.”

The new tower will be 19 storeys high and will offer hi-tech office space, advanced communication facilities, conferencing systems, broadband internet connections, business support services, a venue for conferences and meetings, a swimming pool, a fully equipped gymnasium with a sauna and Jacuzzi, and retail space.

“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,” added Ali.

“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.”

The project has been designed by Architectural and Engineering Innovations Bureau. The soil investigation contract for the tower has been awarded to Al Hai and Al Mukaddam while DJ Jones has been appointed as the cost consultant and project manager.

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