Wasl (company)

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Wasl
Company typeSemi-government company
IndustryReal estate management and development
FoundedMay 25, 2008;16 years ago (2008-05-25)
FounderDubai Real Estate Corporation
Headquarters Dubai,
UAE
Subsidiaries Wasl Properties, Wasl Hospitality & Leisure, Dubai Golf
Website www.wasl.ae/en

Wasl (Arabic: وصل ,lit. 'connection') is a semi-government real estate management and development company based in Dubai, United Arab Emirates. [1] It is one of the largest real-estate development and management companies in Dubai. [2] [3]

Contents

History

Wasl is a semi-government entity established on May 25, 2008, by the Dubai Real Estate Corporation (DREC) to oversee the development and management of its assets. [4] It was created following the merger of two public sector organisations: Dubai Development Board and Real Estate Department. [5]

Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, deputy ruler of Dubai, deputy prime minister and minister of finance was named chairman of Wasl. Hesham Abdulla Al Qassim was appointed vice chairman and chief executive officer. [6] [7] [8] In 2017 Wasl entered into a joint venture with the Dubai Integrated Economic Zones Authority to develop Dubai CommerCity. [9]

In 2021, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced Food Tech Valley, [10] a UAE-government-led global food security initiative. Wasl is developing the project in partnership with the UAE's Ministry of Climate Change and Environment. [11]

Subsidiaries

Wasl Properties

Wasl Asset Management Group established Wasl Properties in 2008. At the time of inception, Wasl Properties had 25,000 residential and commercial properties within older areas of Dubai city, including Deira, Bur Dubai, Al Karama, Muhaisnah, Al Barsha, Jumeirah, Al Wasl, Jebel Ali, Al Quoz and Ras Al Khor. [12] [13]

In 2014, Wasl entered Dubai's freehold real estate sector with the Hyatt Regency Creek Heights project, which consists of two towers. [14]

The company develops residential, commercial and mixed use projects across Dubai, including Wasl Gardenia, [15] Wasl Village, [16] Tiara United Towers, [17] Wasl Green Park, [18] Wasl Gate, Wasl1, seven community malls across Dubai: Dar Wasl, Wasl Vita, Wasl51, Wasl Port Views, Wasl Square, and more. [19] [20] [21]

References

  1. ↑ "Wasl Asset Management Group's H.E. Hesham Al Qassim On Dubai's Real Estate Market". Entrepreneur. 2017-09-26. Retrieved 2024-08-30.
  2. ↑ "wasl breaks a Guinness World Records title in celebration of the 'Year of Zayed'". PCMag Middle East. 2018-03-19. Retrieved 2024-08-30.
  3. ↑ "Top 50 Real Estate Developers in MENA 2021. wasl Asset Management Group". forbesmiddleeast.com. Retrieved 2024-08-30.
  4. ↑ "Wasl Asset Management - Construction Week Online". 2022-09-13. Retrieved 2024-08-30.
  5. ↑ "Firm begins reshaping Dubai's landscape". gulfnews.com. 2008-05-25. Retrieved 2024-08-30.
  6. ↑ "Real-Estate-Icons-32-Hesham Abdulla Al Qassim - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More". www.arabianbusiness.com. Retrieved 2024-08-30.
  7. ↑ King, Neil (2018-11-24). "Eye on the future: UAE's wasl Asset Management CEO Hesham Abdulla Al Qassim" . Retrieved 2024-08-30.
  8. ↑ "Hesham Abdulla Qassim Al-Qassim". wsj.com. Retrieved 2024-08-30.
  9. ↑ Abbas, Waheed. "Dubai CommerCity sees strong demand for office space". Khaleej Times. Retrieved 2024-08-30.
  10. ↑ "Food Tech Valley to triple Dubai food production - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More". www.arabianbusiness.com. 2023-05-03. Retrieved 2024-08-30.
  11. ↑ "National Food Security Strategy 2051 | The Official Portal of the UAE Government". u.ae. Retrieved 2024-08-30.
  12. ↑ Properties, Tanami. "Wasl Asset Management Group". www.tanamiproperties.com. Retrieved 2024-08-30.
  13. ↑ "Wasl properties". www.thedubailands.com. Retrieved 2024-08-30.
  14. ↑ "wasl sells out phase 1 of Dubai Creek project - Construction Week Online". 2014-12-15. Retrieved 2024-08-30.
  15. ↑ "Dubai: Wasl sells out Gardenia townhomes II in second phase sale". Khaleej Times. UAE. 21 February 2023.
  16. ↑ "Wasl Properties launch 6,200 housing units within new Al Qusais project". 2022-04-08. Retrieved 2024-08-30.
  17. ↑ "Dubai developer launches twin-tower project in Business Bay - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More". www.arabianbusiness.com. 2021-08-06. Retrieved 2024-08-30.
  18. ↑ "Wasl Properties launches 'wasl green park' in Ras al Khor". gulfnews.com. 2021-12-26. Retrieved 2024-08-30.
  19. ↑ "Driven By Duty: wasl Asset Management Group CEO H.E. Hesham Al Qassim". Entrepreneur. 2017-09-15. Retrieved 2024-08-30.
  20. ↑ "UAE: wasl unveils 464-sqm mosque in Muhaisnah - Construction Week Online". 2016-06-23. Retrieved 2024-08-30.
  21. ↑ "Dubai's asymmetrical wasl tower takes shape - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More". www.arabianbusiness.com. 2022-10-29. Retrieved 2024-08-30.
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