wasl was established on May 25, 2008 by the Dubai Real Estate Corporation (DREC) to oversee the management of its assets and grow its real estate portfolio. Its main objective is to strengthen Dubai’s position as the premier hub to live and work in and at the same time be the ultimate destination for tourists.
Created following the merger of two government organisations, Dubai Development Board and Real Estate Department, wasl has focused its activities on a number of key business sectors including project and property management, hospitality and investment management.
The successful merger and integration included changing business practices, modifying core competencies of people and implementing market driven investment strategies. Today wasl is one of the largest real estate management companies in Dubai.
wasl operates across a wide spectrum of sectors through its large portfolio of real estate assets that it manages on behalf of DREC and others. These sectors range from residential and commercial properties, to industrial plots of land and, from leisure and entertainment to hotels and serviced apartments.