His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, visited today the headquarters of wasl Asset Management Group (wasl), a subsidiary of Dubai Real Estate Corporation (DREC). Accompanied by His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, the Crown Prince of Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of DREC, Sheikh Mohammed endorsed a collection of projects in the hospitality and tourism sector that wasl plans to launch with a total cost of more than AED 2 billion.
During the visit Sheikh Maktoum said that these new projects are in line with the comprehensive vision of Sheikh Mohammed bin Rashid to enhance Dubai’s position as a leading regional and international tourist destination as well as His Highness’ directives to continue all development projects in accordance with the plans and strategies that are continuously reviewed to achieve best returns. “Stop is not part of the vocabulary in Dubai, and success is a continuous process that never stops”, Sheikh Maktoum said.
H.E. Hesham Al Qassim, Chief Executive Officer of wasl emphasised the importance of tourism as one of the main non-oil drivers of Dubai’s economic growth. “Since inception, wasl’s strategy has been focused on becoming a significant contributor to the success story and economy of Dubai. We are pleased to be able to continue to actively support the city’s position as the leading business and tourism hub in the region by providing a growing number of quality commercial and residential properties,” he said.
The new projects that were approved and endorsed by Sheikh Mohammed bin Rashid are expected to help meet the rapidly growing demand from the increasing number of visitors to Dubai, as they will provide a further 1,500 new rooms in different parts of the Emirate.
One of the new projects is Al Maktoum Development, a cultural project that aims to convey pride in the UAE’s tradition and culture by re-designing the area that hosted the first modern hospital in the Emirate, Maktoum Hospital. The focal point of the themed mixed-use master development will be a museum that will present the evolution of health in Dubai by displaying original instruments and historical documents from the hospital. The development will also comprise a traditional Arabic souk with specially selected shops and restaurants and beautifully designed urban spaces which will help create a thriving multi-cultural environment. The development will be supported by a hotel, a serviced-apartments tower, as well as commercial and residential buildings. The development aims to attract both tourists and residents looking for a unique community in which to live.
Sheikh Mohammed bin Rashid has also viewed the plans for Jumeirah Beach Club Development. The beach-front club on Jumeirah Beach Road combines exclusivity and proximity to the heart of the City. Designed to be one of the top beach clubs in the world, the project includes an exclusive beach club where members can enjoy a range of premium services and world-class facilities, including a private beach, renowned spa, themed swimming pools as well as sports and recreation facilities. It will also include a luxurious boutique hotel with 78 signature rooms, 12 executive suites with terraces and private jacuzzis, five royal villas with private infinity pools overlooking the Arabian Gulf, and seven water villas that are each built on a private pier which has a small marina as well as exclusive features such as outdoor fireplaces and private butler services.
Other projects presented to Sheikh Mohammed bin Rashid during his visit to wasl included; the new expansion plans for Le Meridien Airport hotel, which is already part of wasl’s hospitality portfolio, and is very popular with leisure and business tourists; and the new Muraqqabat Development which comprises residential and hospitality buildings which aim to meet the increasing demand for quality hospitality and residential properties in one of Dubai’s busiest districts. Sheikh Mohammed bin Rashid was also presented with a number of other projects that wasl plans to develop and which will support the strong growth witnessed by the tourism industry in Dubai in particular, and the UAE as a whole.
