Dubai, UAE, 18 February, 2015 – His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai has paid a visit to Wasl, the asset management group of Dubai Real Estate Corporation. During the visit, His Highness examined the latest projects delivered by Wasl over the past few years and was appraised of the group's plans for improving the real estate sector throughout the emirate of Dubai in the forthcoming years.
His Highness’s visit was in line with Dubai leadership's prudent and continuous monitoring of various economic sectors, public authorities and major corporations that are working for the success of the emirate on the world stage. It follows his previous visit in late 2011 when he assessed the company’s milestones accomplished and outcomes attained in its operations and projects.
During his visit, His Highness Sheikh Mohammed Bin Rashid Al Maktoum was also joined by His Highness Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council and His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai and the Chairman of the Dubai Real Estate Corporation and Wasl, in addition to His Excellency Khalifa Saeed Sulaiman, Director General of Dubai's Protocol Department. They werereceived by Wasl Group CEO, His Excellency Hesham Abdullah Al Qassim, as well as Wasl board members and executive managers. The visit commenced at the ballroom of Hyatt Regency Creek Heights Dubai, one of two buildings comprising Creek Heights, a project launched by Wasl last November as its first step to enter the freehold market in Dubai, as a result of the directives and continuous guidance of His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum.
Smart Well-Integrated Presentation:
Wasl management took His Highness and his accompanying delegation on an interactive tour to give a smart and comprehensive presentation of the company’s innovations that have enhanced Dubai’s real estate sector. The venue was set up specifically for the occasion to give a virtual tour that enabled the visitors to travel through a series of stages, with some highlighting the most important projects completed to date, giving numerical data to explain Wasl’s on-site achievements and presenting the projects that Wasl plans to carry out in the near future.
The first stage included a detailed explanation of major projects that the company completed and handed over during the period from 2011 till the end of 2014, which boosted Wasl’s property portfolio and enabled the group to become a leading player in the city’s real estate market. It was able to reveal to His Highness the successful completion of projects that had first been outlined to him during his previous visit in 2011.
One such key project was Wasl trio, which was completed in the first quarter of 2014. Located at Muraqqabat, Deira, Wasl trio demonstrates Wasl's commitment to launching mixed-use developments and its strategy of lending modern touches to Dubai’s traditional areas, thereby promoting and revitalising these districts. As its name suggests, Wasl trio comprises three blocks; the first with 84 serviced apartment units consisting of studios, one- and two-bedroom apartments and a ground-floor retail area; the second being Hyatt Palace, a four-star hotel containing 210 rooms and the third designated for residential and retail use, offering a total of 133 apartments with 100% occupancy rate.
Another development viewed by His Highness is Wasl vita, located on Al Wasl Road, Jumeirah. Wasl vita, with views of Dubai’s skyscrapers skyline, strikes a balance between a social community environment and a high degree of privacy for residents, providing them with convenient features and a multitude of entertainment and luxury facilities, including retail outlets on the ground floor. Wasl vita features 64 residential units comprising 20 one-bedroom, 38 two-bedroom and six three-bedroom apartments, plus a retail area of about 100,000 sq. ft. which have been rented completely. This development is part of Wasl’s growing portfolio of residential and commercial developments planned for the near future.
The third development revealed to His Highness in the course of Wasl’s presentation was Wasl district, a showcase of Emirati heritage, spirit and local environment with its time-honoured traditions and authenticity. The development consists of two phases, with the first one containing its traditional Souq, which was completed in early 2014 and has all its retail spaces rented. The second phase will be completed by 2017, providing the area with a medical museum, residential spaces, commercial office spaces and a Hyatt-managed hotel. Through the two phases of the development Wasl intends to introduce a variety of special features that will attract families and visitors from all over the world. It will also boost tourist traffic in the emirate, accommodate investors and tourists looking for such unique style. Wasl district highlights Wasl’s creative capabilities to unlock treasures of operation in such a field, thus securing a privileged position ahead of its competitors redeveloping the site that hosted Al Maktoum Hospital.
The presentation also covered dar Wasl, a new development launched by the company on Al-Wasl Road, Jumeirah. dar Wasl offers a wide variety of residential units and retail spaces in this increasingly important area for residents in Dubai. In the provision of its luxury residences, Wasl has developed a unique concept based on utilising renowned Islamic architectural features enhanced with contemporary touches inspired by the Andalusian period. dar Wasl has been developed in two phases and covers a total area of 693,171 sq. ft. Recently completed, the first phase of dar Wasl consists of 166 villas of three-, four- and five-bedrooms. The second phase will feature 112 apartments and 87 units of retail outlets, restaurants and cafes and will be completed by the end of 2015.
The final development revealed to His Highness and the Dubai government delegation was Creek Heights Residences, which surprised investors in Dubai’s freehold sector by being the first furnished development to be offered for sale after full completion, with the first phase entirely sold thanks to the various investment options with competitive prices and matchless standard specifications. In view of the unprecedented exceptional success of the first phase, Wasl is now ready to offer the subsequent phases for sale soon.
Marking a milestone development in Dubai’s real estate market, Creek Heights consists of two towers. The first, Hyatt Regency Creek Heights Residences, is home to 405 luxury fully-furnished residential units, including studio, duplex, and one, two and three-bedroom apartments. The second tower is a contemporary luxury hotel, named Hyatt Regency Creek Heights Dubai, featuring 443 luxurious guest rooms, four restaurants, three indoor gymnasia, two swimming pools, meeting rooms, conference facilities and spaces to be allocated for retail purposes on the lower floors.
With breathtaking views over Dubai Creek, Creek Heights is strategically located in close proximity to Dubai Healthcare City. The total area of the development land plot is 180,000 sq. ft., with a built-up area of 2.2 million sq. ft. Additionally it is only 10 minutes from vital sites in the city, such as DIFC, Jumeirah and Dubai International Airport.
Figures Speak for Themselves
Concluding the first part of the visit, His Excellency Hesham Abdullah Al Qassim gave a comprehensive presentation of the numerous accomplishments made by Wasl, based on its financial performance which reflected its continuous success and sustainable growth year-on-year over the past four years, which is in large attributed to the continuous support and direct supervision of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, and the aim of setting and achieving the ambitious plans that will lead Dubai to being ranked first amongst global cities.
Wasl’s focus in such projects has been on developing architectural masterpieces that uphold the UAE’s rich heritage while featuring the latest state-of-the-art techniques in planning and engineering construction processes. Throughout the development process Wasl pays careful attention to aesthetic features and aims to preserve the environment and natural resources for future generations while employing the best practices and standards in all aspects. By doing so the company manages to provide comprehensive well-integrated solutions to end users, enabling them to live and work comfortably having met all their needs and expectations.
In the final part of its presentation to His Highness, Wasl envisioned the promising future of its carefully considered operations and plans intended to support the Dubai 2021 Plan, based on the recommendations and guidance given by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum,to reinforce the culture of innovation established by His Highness Sheikh Mohammed Bin Rashid Al Maktoum to maintain Dubai’s global leading position in all aspects of modern society. During this aspect of the programme, Wasl displayed the projects it intends to develop over the coming years, using interactive prototypes showcasing key features and phases of the projects. With such developments, Wasl will be able to bring in new additions that live up to Dubai's cultural position, while marking a superior edge in the local and regional real estate sector.
Located at Jebel Ali area near the RTA metro station, this development will be constructed in different stages over the coming years and resembles a gate, with the architecture selected to be symbolic by showing how Dubai receives visitors. Dubai Gate is a city for innovation and creativity and a spacious development that reflects the city's contemporary vision and its strategic 2021 Plan, which is aimed at ensuring happy residents in an inclusive society that offers them a unique experience for sustainable life and work.
The key features of this city of innovation and creativity displayed in the presentation, included the Innovation Center that is aimed at attracting talented young people to practice modern arts, and a towering building named "Ibdaa", meaning “Innovation”, that will mark the icon of this gate receiving Dubai visitors. Ibdaa tower will feature spaces for temporary rent to help innovators demonstrate their creativity and will include a digital library, equipment and creativity stimulation techniques, thus providing suitable environment for innovation. Next to the tower will be "Ibdaa Square" that will host exhibitions for innovative products and ideas, and to truly be the ideal destination for creative activities and events from the UAE and beyond.
Modernity is perfectly represented in the iconic “Ibdaa” tower that will mark the key feature of the development. Additionally, another building covered with gigantic digital screens will receive visitors and promote Dubai events throughout the year.
Over a total development area of 15 million square feet, the built-up areas will range from 20 to 22 million sq. ft. thanks to focusing on developing green spaces so that the project will include a wide-ranging green park of an area close to that of Safa Park. This way, Wasl will manage to provide a healthy life style in a modern environment that is rarely available in modern cities around the world. It also provides retail spaces, cultural complexes, restaurants, schools and healthcare services, making Dubai Gate a city well-integrated with its serenity and attractively beautiful nature.
Dubai Gate is an all-inclusive destination that provides residents with all means of comfort and sustainable life style in a healthy modern environment surrounding the central park. This development deserves the 'multi-use- description for having residential buildings, office spaces, hotel apartments and hotels, with villas and town houses amid serene rural surroundings, only a short distance from retail compounds and outlets, restaurants and cafes available within the same development, thus meeting all of residents’ needs and attracting shoppers and visitors from all over Dubai and beyond; especially because it has access to the international highway and metro network.
Zabeel Park 1
His Highness also saw a video presentation of this development which embodies the vitality of the city in the heart of green Zabeel Park, thus providing an urban island in the middle of busy Dubai. Zabeel Park 1 will provide an attractive environment with key features that will attract Dubai tourists to enjoy the first round-the-year operational snow fountain, to be the first of its kind in the region. The development will be an attraction for tourism, entertainment, hospitality and business activities. It will also be the home of an amusement water fountain, utilising modern technology to fantastically distribute lights all over the development.
In view of its strategic location, the project designers were inspired by the beauty of Zabeel Park to envision a city that blends modernity with nature to provide integrated building designs with harmonious geometric shapes, forming an angle resembling figure '1' through Dubai Frame. The property will also carefully links Dubai Trade Center, Zabeel Park and Sheikh Zayed Road.
Wasl has hired the best experts in outdoor landscaping and architecture to smartly combine the grand status of Sheikh Zayed Road and the natural greenery provided by Zabeel Park green spaces. Zabeel Park 1 will be a continuation of the development journey launched by the late His Highness Sheikh Rashid BBin Saeed Al Maktoum with the construction of Dubai World Trade Center, and carried on afterwards by His Highness Sheikh Mohammed Bin Rashid Al Maktoum.
Enjoying a strategic location over an area of 1.3 million sq. ft., this property will be a primary destination for living, work and attractive events. The project will also reflect Dubai's contemporary urban nature and modern vitality as well as the beauty of Zabeel Parl surrounding its premises. Its buildings will provide a wide range of facilities ranging from stylish residential, office and hotel units to the state-of-the-art commercial and retail spaces. This will provide residents and visitors alike with the finest work environment and living experience in elegant architecture designs, especially in the main tower that will resemble number '1' to be the icon of the project and reflect Dubai’s vision in being number one in all aspects of life.
This attractive environment will be complimented with hospitality and entertainment services that will include a host of restaurants and cafes all around the development, as well as transversal retail compounds to transport the visitor from the vivid city life to a fantastic shopping and picnic environment which parallels the serene ambience of the park, especially with the Snow Fountain that uses the ultimate state-of-the-art cooling technology to spread snowflakes throughout most months of the year, cooling down the air even in the summer.
Zabeel Park 1 construction area will cover 7.1 sq. ft., and to make sure the development is in line with the highest modern architecture standards and techniques, Wasl has engaged the best architects, and sought the skills of Martha Swartz, worldwide expert in landscaping.
Wasl used a large prototype to give an adequate explanation to His Highness about this development that will be one of the modern attractions Dubai will be proud of. The tower will be based on new engineering standards of the 21st century towers. It will be the first vertical all-inclusive city, featuring the tallest ceramic façade in the world covering the tower, as well as vertical parks and a light museum, which will be the first of its kind in the region, to showcase historical and latest technologies innovated by mankind in the field.
Comprising 60 floors, the development will feature vertical residential compounds to provide an all-inclusive city, meeting all the needs of its residents, while improving health standards across all parts of the property.
This tower was designed by two world-renowned designers; namely, sustainability expert Prof. Werner Sobek and the famous architect Ben van Berkel. With the expertise of these designers and ability to blend architecture with the science of sustainability, this towering building has been specially invented to combine features of construction and environment, using the latest sustainability techniques and architectural skills.
One of the key features of the development shown in the movie presented to His Highness about Wasl tower was the exterior self-lighting techniques that will be utilised to reflect various occasions and events held in the city. Every week a new theme will be inspired to communicate a message to residents and city visitors, or to highlight an important event held there. Furthermore, the tower will use special and unique materials that will be manufactured for the first time in the UAE.
The tower will be constructed at close proximity to Sheikh Zayed Road. It will set new standards for architecture and high lifestyle in future towers of the 21st century, not only in the UAE, but across the region and the entire world.
Throughout the design phase, developers will pay attention to the importance of utilising the surrounding features so that the development will reflect the sophisticated advancement and great engineering of Burj Khalifa and Sheikh Zayed Road, the elegance of Jumeirah area, the serenity of the sea coast, the warmth of the Dubai sunshine and the enchantment of the Arabian Gulf.
Its vitality will be derived from the activity of people and traffic around it, and from the movement of the sun from sunrise to sunset. While towers usually depends on its vertical extension to provide services in specific parts, this new tower will provide complete residential compounds at every set of floors, with each one supported with floor social halls in a cozy ambience that will comprise sports facilities, corridors, retail outlets, restaurants and cafes plus other services, thus creating all-inclusive independent quarters in one tower enabling residents to enjoy the highest degree of privacy.
The building system with ceramic and innovative materials will help regulate temperature inside the tower, and reduce the heat of the sun, minimising energy consumption and reducing noise from the surroundings. The vertical garden will support sustainability, helping in significantly reducing carbon dioxide levels – thus having a vertical city with complete features.
At the end of the visit, His Highness expressed his admiration of the presentations, and praised the efforts of Wasl driven by the successful leadership of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and the company’s board of directors and executive managers and all those involved in achieving success and delivering a high level of performance that reflects positively on the real estate sector and the overall economy and that is in line with Sheikh Mohammed Bin Rashid’s vision of Dubai 2021.