AED350 million iMPZ residential project unveiled by Fortune Group

New residential community planned for media freezone

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By  Colin Foreman Published  May 7, 2005

Developer Fortune Investments has unveiled Fortune Serene, an ambitious residential project in the International Media Production Zone (iMPZ). The US $95 million (AED350 million) three-tower project will cover a total built-up area of 900 000 m2. Mohammed Binghalib, director, iMPZ, said: “With the sudden increase in population and traffic, any new community development in Dubai needs to be planned with a residential component, so as to enhance time and costs savings in addition to enhancing productivity through providing its tenants with the all crucial ‘peace of mind’.” The developer believes the project will be attractive to investors working in iMPZ and Dubai Media City nearby. Binghalib added: “Fortune Serene is a remarkable project which, when complete, will add significant appeal to the lifestyle in iMPZ. “Its affordability factor appeals to professionals working both within iMPZ, as well as outside of it.” The announcement of Fortune Serene development follows close on the heels of Fortune Towers — which will be built by Malaysian contractor IJM Corporation Berhad. The Fortune Group is also developing two commercial towers in Jumeirah Lakes, and residential complexes on The Palm, Jebel Ali and Dubai Marina.

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