Post by : Bianca Suleiman
Dubai, UAE — H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum presided over a session of the Dubai Real Estate Corporation (DREC) Board, where the performance of Wasl Group for 2025 was meticulously reviewed, showcasing another successful year for the emirate's vibrant real estate landscape.
Sheikh Maktoum expressed commendation for the sustained progress at both DREC and Wasl Group, illustrating that the growth and resilience of Dubai's real estate market underscore the emirate's broader economic vitality. He remarked that the sector plays a crucial role in job creation, infrastructure enhancement, and solidifying Dubai’s status as an international hub for residents, investors, and visitors alike.
During the meeting, the commitment to Dubai's long-term urban development strategy, led by H.H. Sheikh Mohammed bin Rashid Al Maktoum, was reaffirmed. It was acknowledged that ongoing real estate initiatives are pivotal in elevating livability standards and fortifying the emirate’s competitiveness on a global scale, in line with the objectives of the Dubai Economic Agenda D33.
One central aspect highlighted was Wasl Group's strides in digital transformation. Transitioning from planning to active implementation, the initiative aims to enhance customer interfaces, bolster operational efficiency, and increase business capacities throughout the Group’s offerings.
Furthermore, addressing housing accessibility was a significant agenda item. The Board reviewed Wasl’s accomplishments regarding affordable housing, confirming the availability of 45,000 affordable residential units by 2025, which now constitute 85% of Wasl's leasing portfolio. These units offer residents well-established communities enriched with green spaces, connectivity, and essential amenities. Consistent with the Dubai 2040 Urban Master Plan, Wasl intends to double its residential leasing portfolio in the coming years to cater to a more diverse range of income levels.
The meeting was attended by key board members including Hesham Abdulla Al Qassim, Mohamed Hadi Ahmed Al Hussaini, Rashid Mohammed Rashid Al-Mutawa, Shuaib Mir Hashem Khouri, Rashid Ali bin Oboud, and Abdulaziz Mohammed Al Mulla.
The Board concluded by stressing the importance of continuing momentum in real estate, hospitality, and entertainment projects to ensure that development stays in alignment with the long-term urban and economic ambitions of Dubai.
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