Wasl

The Formation of Wasl Properties in 2008

Wasl Real Estate Developer LLC was officially established on May 25, 2008, following the strategic merger of two major public-sector bodies — the Dubai Development Board and the Real Estate Department — under the umbrella of the Dubai Real Estate Corporation (DREC). This union brought together decades of operational expertise, regulatory oversight, and extensive property holdings, creating a semi-government developer with a dual mandate: to manage existing assets and to lead new real estate development across Dubai.

At the time of its creation, Wasl inherited an extensive portfolio of approximately 25,000 residential and commercial units, many located in some of Dubai’s most established districts, including Deira, Bur Dubai, Al Karama, Al Barsha, Jumeirah, Al Quoz, Muhaisnah, and Ras Al Khor. These legacy neighborhoods provided a strong foundation for the company’s growth trajectory, linking heritage districts with emerging urban corridors.

The name “Wasl”, meaning “connection” in Arabic, reflects the company’s core mission: to connect assets, communities, and stakeholders in a way that aligns with Dubai’s urban development vision. From the outset, Wasl positioned itself as a key player bridging public policy goals with practical real estate delivery, setting the tone for its role in shaping the city’s evolving landscape.

Wasl Real Estate’s Evolving Property Portfolio

Since its establishment in 2008, Wasl Real Estate Developer LLC has built one of the most diverse and far-reaching real estate portfolios in Dubai. Starting with approximately 25,000 units inherited at inception, the company has significantly expanded its holdings. Current estimates indicate over 47,000 residential units under management, with some reports placing the total closer to 55,000 when factoring in commercial spaces, hotels, leisure facilities, and land assets.

Wasl’s portfolio spans multiple property categories:

• Residential properties – a mix of apartments, townhouses, and duplexes distributed across both historic districts and new master-planned communities.
  
  

• Commercial spaces – including retail outlets and office buildings positioned in high-demand locations.
  
  

• Hospitality assets – the management of 32 hotels, operated in collaboration with well-known international hospitality brands.
  
  

• Leisure and land holdings – such as golf clubs and extensive plot reserves strategically located across the emirate.

Portfolio Snapshot

From long-standing leases in neighborhoods like Deira and Bur Dubai to large-scale mixed-use developments in growth areas, Wasl’s asset base reflects a blend of legacy holdings and forward-looking urban projects. This scale and variety give the company a multi-layered presence across Dubai’s property market, allowing it to serve a wide spectrum of residents, businesses, and visitors.

The Landmark Projects Shaping Wasl’s Story

Over the years, Wasl Real Estate Developer LLC has delivered a series of projects that have left a lasting mark on Dubai’s urban landscape. These developments span residential, commercial, hospitality, and mixed-use sectors, reflecting the company’s ability to evolve from managing existing assets to creating large-scale, purpose-built communities. One of the most notable milestones was the Hyatt Regency Creek Heights, launched in 2014, which signaled Wasl’s entry into the freehold property market. Located in Business Bay, the project comprises twin towers offering both hospitality and residential spaces, blending hotel luxury with private living.

Another key achievement is the Tiara United Towers, also in Business Bay. This twin-tower residential project—standing 193 meters high with a combined 849 units—was completed in 2021 after more than a decade in development. Beyond these, Wasl has created community-focused projects such as Wasl Gardenia, Wasl Village, Wasl Green Park, Wasl Gate, and Wasl1, as well as retail destinations like Dar Wasl, Wasl Vita, Wasl51, Wasl Port Views, and Wasl Square.

Large-scale ventures continue to define Wasl’s ambition, including The Island, valued at AED 4.4 billion, and the iconic Wasl Tower on Sheikh Zayed Road—a spiraling skyscraper set to feature luxury residences, offices, and a Mandarin Oriental hotel. From revitalizing established districts to shaping new urban zones, these projects chart Wasl’s progression from asset management to comprehensive real estate development across Dubai.

Guiding Wasl Real Estate’s Growth Path

Since its formation, Wasl Real Estate Developer LLC has operated under leadership that closely aligns its objectives with Dubai’s broader economic and urban development strategies. At the helm is Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, who serves not only as Chairman of Wasl but also as Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance for the UAE. His role ensures that Wasl’s long-term direction remains in step with the emirate’s policy goals and development priorities. Supporting this vision is Hesham Abdulla Al Qassim, Vice-Chairman and CEO, who oversees the company’s operational execution. Under his guidance, Wasl has expanded its activities from managing residential and commercial assets to diversifying into freehold property development, hospitality projects, and large-scale mixed-use ventures.

This leadership team has also positioned Wasl in key strategic initiatives, such as Dubai CommerCity—an e-commerce free zone launched in 2017 with the Dubai Integrated Economic Zones Authority (DIEZ)—and Food Tech Valley, a 2021 collaboration with the UAE Ministry of Climate Change and Environment. These ventures highlight Wasl’s participation in sectors that extend beyond conventional real estate, contributing to Dubai’s economic diversification agenda.

How Wasl Organizes Its Business Streams

The operations of Wasl Real Estate Developer LLC are structured into specialized divisions, each focusing on a distinct segment of Dubai’s property and lifestyle market. This approach allows the company to manage a broad portfolio efficiently while catering to diverse customer needs across the emirate.

• Wasl Properties – This division is responsible for leasing, property management, and asset operations, covering everything from long-established neighborhoods such as Deira and Bur Dubai to modern master-planned developments like Wasl Gate. It plays a central role in ensuring the company’s residential and commercial assets remain fully operational and competitive.
  
  

• Wasl Hospitality & Leisure – Oversees the company’s hotel portfolio and tourism-related assets, many of which operate in partnership with internationally recognized hospitality brands. This division supports Dubai’s role as a global tourism hub while contributing to Wasl’s revenue diversification.
  
  

• Dubai Golf – Manages two of the city’s most prominent golf destinations: Emirates Golf Club and Dubai Creek Golf & Yacht Club. These facilities combine leisure, sports, and hospitality services, enhancing Dubai’s profile as a world-class recreational destination.
  
  

This multi-division structure shows how Wasl extends its influence beyond traditional real estate development, integrating hospitality, leisure, and lifestyle services into its long-term growth strategy.

Wasl’s Digital Transformation

Wasl Real Estate Developer LLC has incorporated advanced digital solutions into its operations to streamline services and improve the overall customer experience. While the company does not publicly disclose the full technical details of its proprietary systems, its achievements in this area have been recognized at a regional level. In 2023, Wasl earned the Gold Award at the SAP Quality Awards (EMEA) for its innovative use of digital applications. These solutions are designed to optimize operational efficiency, automate key processes, and deliver a more responsive service to tenants, investors, and partners.

This focus on digital engagement includes tools for property leasing, maintenance requests, payment processing, and customer support—all accessible through integrated platforms. By leveraging data-driven insights, Wasl can enhance portfolio management while ensuring that residents and clients receive timely and transparent service. The company’s commitment to technology reflects a forward-looking approach to real estate management, where operational scalability and tenant satisfaction are central to long-term success.

Wasl’s Track Record of Excellence

Over the years, Wasl Real Estate Developer LLC has received multiple awards that reflect its commitment to quality, customer service, and community engagement. These recognitions highlight the company’s ability to meet operational standards while contributing to Dubai’s broader socio-economic development.

In 2014, Wasl earned the Dubai Quality Award, acknowledging its performance in operational efficiency and service delivery. This was followed by the Gold Award in 2020, further reinforcing its reputation for maintaining high-quality standards across its portfolio. The company’s contribution to social and economic initiatives was recognized in 2015 with both the Dubai Human Development Award and the CSR Label, underscoring its role in fostering community growth and corporate responsibility.

Additionally, Wasl received a regional award for Real Estate Development Customer Care Excellence at the Middle East Government and Business Customer Care Awards in 2014. This distinction reflected its emphasis on customer-focused service and transparent communication. Collectively, these accolades position Wasl as a developer with a strong commitment to accountability, quality, and public-sector alignment in the real estate sector.

Wasl’s Community Reach Across Dubai

The portfolio of Wasl Real Estate Developer LLC covers a wide spectrum of Dubai’s neighborhoods, extending from historic districts to modern, master-planned communities. In its legacy holdings, Wasl manages properties in areas such as Deira, Bur Dubai, Al Karama, and Ras Al Khor—districts that have played a central role in Dubai’s urban and economic history. These locations often attract long-term tenants who value their central positioning and established infrastructure.

At the same time, Wasl has been active in shaping new developments in growth corridors, including Wasl Gate, Wasl1, Wasl Green Park, and Wasl Village. These projects blend residential, retail, and leisure components, reflecting the company’s focus on mixed-use planning and integrated community design. This broad geographic footprint allows Wasl to engage with a diverse customer base—ranging from families and professionals in central neighborhoods to investors and tenants in newly built communities. Its presence also aligns closely with Dubai’s strategic goals for housing variety and tourism-driven development.

The Wasl Experience Center and Organizational Structure

The operational heart of Wasl Real Estate Developer LLC is the Wasl Experience Center, located in Al Safa 2 along Sheikh Zayed Road. This facility functions as the company’s main public and corporate interface, offering spaces for customer interactions, sales consultations, and service support. To ensure accessibility, Wasl provides multiple contact channels, including a dedicated customer care hotline (800 9275) and direct email communication for both sales and support inquiries.

Organizationally, Wasl employs a workforce numbering in the hundreds, with roles spanning real estate management, research and development, sales, and human resources. This mid-sized yet specialized structure supports the company’s ability to oversee a diverse and growing portfolio, while maintaining direct connections with tenants, investors, and community stakeholders.

Conclusion

• Established in 2008 through the merger of the Dubai Development Board and the Real Estate Department under DREC.
  
  

• Manages a diverse portfolio exceeding 47,000 residential units, plus commercial, hospitality, leisure, and land assets.
  
  

• Key developments include Wasl1, Wasl Gate, Tiara United Towers, Hyatt Regency Creek Heights, and The Island.
  
  

• Leadership guided by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum (Chairman) and Hesham Abdulla Al Qassim (Vice-Chairman & CEO).
  
  

• Operates through specialized divisions: Wasl Properties, Wasl Hospitality & Leisure, and Dubai Golf.
  
  

• Recognized for digital innovation, including the 2023 SAP Quality Awards Gold (EMEA).
  
  

• Recipient of multiple service and quality awards, including the Dubai Quality Award and CSR Label.
  
  

• Presence spans historic neighborhoods like Deira and Bur Dubai, and emerging communities like Wasl Green Park and Wasl Village.
  
  

• Headquarters at the Wasl Experience Center in Al Safa 2, Sheikh Zayed Road.
  
  

• Plays a role in strategic initiatives such as Dubai CommerCity and Food Tech Valley, aligning with Dubai’s diversification agenda.