Wasl (company)
{{Short description|Real estate company based in Dubai}}
{{Infobox company
| name = Wasl
| type = Semi-government company
| industry = Real estate management and development
| founded = {{Start date and age|2008|5|25}}
| founder = Dubai Real Estate Corporation
| hq_location = Dubai
| hq_location_country = UAE
| key_people =
| subsid = Wasl Properties, Wasl Hospitality & Leisure, Dubai Golf
| website = {{URL|https://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.{{Cite web |date=2017-09-26 |title=Wasl Asset Management Group's H.E. Hesham Al Qassim On Dubai's Real Estate Market |url=https://www.entrepreneur.com/en-ae/growth-strategies/wasl-asset-management-groups-he-hesham-al-qassim-on/300600 |access-date=2024-08-30 |website=Entrepreneur |language=en}} It is one of the largest real-estate development and management companies in Dubai.{{Cite web |date=2018-03-19 |title=wasl breaks a Guinness World Records title in celebration of the ‘Year of Zayed’ |url=https://me.pcmag.com/en/uae/10632/wasl-breaks-a-guinness-world-records-title-in-celebration-of-the-year-of-zayed |access-date=2024-08-30 |website=PCMag Middle East |language=en-ae}}{{Cite web |title=Top 50 Real Estate Developers in MENA 2021. wasl Asset Management Group |url=https://www.forbesmiddleeast.com/lists/top-real-estate-developers-in-mena/wasl-asset-management-group/ |access-date=2024-08-30 |website=forbesmiddleeast.com}}
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.{{Cite web |date=2022-09-13 |title=Wasl Asset Management - Construction Week Online |url=https://www.constructionweekonline.com/lists/wasl-asset-management |access-date=2024-08-30 |language=en-US}} It was created following the merger of two public sector organisations: Dubai Development Board and Real Estate Department.{{Cite web |date=2008-05-25 |title=Firm begins reshaping Dubai's landscape |url=https://gulfnews.com/business/property/firm-begins-reshaping-dubais-landscape-1.106769 |access-date=2024-08-30 |website=gulfnews.com |language=en}}
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.{{Cite web |title=Real-Estate-Icons-32-Hesham Abdulla Al Qassim - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More |url=https://www.arabianbusiness.com/lists/403324-real-estate-icons-32-hesham-abdulla-al-qassim |access-date=2024-08-30 |website=www.arabianbusiness.com |language=en-US}}{{Cite web |last=King |first=Neil |date=2018-11-24 |title=Eye on the future: UAE's wasl Asset Management CEO Hesham Abdulla Al Qassim |url=https://gulfbusiness.com/building-future-wasl-asset-management-ceo-hesham-abdulla-al-qassim/ |access-date=2024-08-30 |language=en-US}}{{Cite web |title=Hesham Abdulla Qassim Al-Qassim |url=https://www.wsj.com/market-data/quotes/FR/XPAR/IAM/company-people/executive-profile/31394203 |access-date=2024-08-30 |website=wsj.com}} In 2017 Wasl entered into a joint venture with the Dubai Integrated Economic Zones Authority to develop Dubai CommerCity.{{Cite web |last=Abbas |first=Waheed |title=Dubai CommerCity sees strong demand for office space |url=https://www.khaleejtimes.com/uae/dubai-commercity-sees-strong-demand-for-office-space |access-date=2024-08-30 |website=Khaleej Times |language=en}}
In 2021, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced Food Tech Valley,{{Cite web |date=2023-05-03 |title=Food Tech Valley to triple Dubai food production - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More |url=https://www.arabianbusiness.com/culture-society/food-tech-valley-to-triple-dubai-food-production |access-date=2024-08-30 |website=www.arabianbusiness.com |language=en-US}} 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.{{Cite web |title=National Food Security Strategy 2051 {{!}} The Official Portal of the UAE Government |url=https://u.ae/en/about-the-uae/strategies-initiatives-and-awards/strategies-plans-and-visions/environment-and-energy/national-food-security-strategy-2051#:~:text=The%20National%20Strategy%20for%20Food,technologies%20and%20enhance%20local%20production. |access-date=2024-08-30 |website=u.ae |language=en}}
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.{{Cite web |last=Properties |first=Tanami |title=Wasl Asset Management Group |url=https://www.tanamiproperties.com/Developer/wasl-properties |access-date=2024-08-30 |website=www.tanamiproperties.com |language=en-us}}{{Cite web |title=Wasl properties |url=https://www.thedubailands.com/developers/wasl-properties |access-date=2024-08-30 |website=www.thedubailands.com |language=en-AE}}
In 2014, Wasl entered Dubai's freehold real estate sector with the Hyatt Regency Creek Heights project, which consists of two towers.{{Cite web |date=2014-12-15 |title=wasl sells out phase 1 of Dubai Creek project - Construction Week Online |url=https://www.constructionweekonline.com/business/article-31798-wasl-sells-out-phase-1-of-dubai-creek-project |access-date=2024-08-30 |language=en-US}}
The company develops residential, commercial and mixed use projects across Dubai, including Wasl Gardenia,{{cite news| url=https://www.khaleejtimes.com/business/dubai-wasl-sells-out-gardenia-townhomes-ll-in-second-phase-sale | title=Dubai: Wasl sells out Gardenia townhomes II in second phase sale| date=21 February 2023 | newspaper=Khaleej Times | location=UAE }} Wasl Village,{{Cite web |date=2022-04-08 |title=Wasl Properties launch 6,200 housing units within new Al Qusais project |url=https://www.constructionweekonline.com/projects-tenders/wasl-properties |access-date=2024-08-30 |language=en-US}} Tiara United Towers,{{Cite web |date=2021-08-06 |title=Dubai developer launches twin-tower project in Business Bay - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More |url=https://www.arabianbusiness.com/industries/construction/466467-dubai-developer-launches-twin-tower-project-in-business-bay |access-date=2024-08-30 |website=www.arabianbusiness.com |language=en-US}} Wasl Green Park,{{Cite web |date=2021-12-26 |title=Wasl Properties launches ‘wasl green park’ in Ras al Khor |url=https://gulfnews.com/business/property/wasl-properties-launches-wasl-green-park-in-ras-al-khor-1.84611639 |access-date=2024-08-30 |website=gulfnews.com |language=en}} Wasl Gate, Wasl1, seven community malls across Dubai: Dar Wasl, Wasl Vita, Wasl51, Wasl Port Views, Wasl Square, and more.{{Cite web |date=2017-09-15 |title=Driven By Duty: wasl Asset Management Group CEO H.E. Hesham Al Qassim |url=https://www.entrepreneur.com/en-ae/growth-strategies/driven-by-duty-wasl-asset-management-group-ceo-he-hesham/300348 |access-date=2024-08-30 |website=Entrepreneur |language=en}}{{Cite web |date=2016-06-23 |title=UAE: wasl unveils 464-sqm mosque in Muhaisnah - Construction Week Online |url=https://www.constructionweekonline.com/business/article-39629-uae-wasl-unveils-464-sqm-mosque-in-muhaisnah |access-date=2024-08-30 |language=en-US}}{{Cite web |date=2022-10-29 |title=Dubai's asymmetrical wasl tower takes shape - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More |url=https://www.arabianbusiness.com/gcc/uae/dubais-asymmetrical-wasl-tower-takes-shape |access-date=2024-08-30 |website=www.arabianbusiness.com |language=en-US}}
References
External links
- [https://www.wasl.ae/en Official website]
Category:Real estate companies of the United Arab Emirates