04th February 2015

Wasl Announces 100% Leasing of Wasl vita Shops

Dubai, UAE, February 4 2015 Wasl, one of the largest real estate companies in Dubai and a subsidiary of Wasl, has announced 100% leasing of the 54 stores at its latest development, Wasl vita.

Located in the Al Wasl Road area in Jumeirah and in line with the real estate organisation’s corporate strategy, Wasl vita has been developed to breathe new life into a key area of Dubai. The project offers a blend of mixed-use residential and commercial property aimed at adding to the busy thoroughfare with its unique feature of Californian architecture housing modern amenities.

In addition to its main Carrefour Market anchor store, which is expected to act as a magnet for visitors travelling from the surrounding areas, Wasl vita includes significant retail facilities that are expected to draw shoppers. The retail aspect of the development has been incorporated to serve Wasl vita residents as well as provide a host of amenities for the wider community.

“We have witnessed demand for retail space in Dubai increase tremendously. This year alone, Wasl has been able to lease 265 shops collectively in a span of just five months,” said Zainab Mohammed, CEO, Property Management and Marketing at Wasl. “Our latest development, Wasl vita has been designed to enhance the Al Wasl area, a popular district of Dubai. We aim to create a vibrant new community that will offer numerous facilities, making it also a focal point for others to visit, as well as being an example of our commitment to launching mixed-use developments to modernise and boost key areas of Dubai,” she added.

Residents and visitors to the area in Jumeirah will able to take their shopping convenience to a new level with the opening of a Carrefour Market at Wasl vita and over 50 premium stores and 19 food and beverage outlets that will cater for their needs. The retail spaces will offer a wide selection, including well-loved names such as Tony Roma’s, Soho Grill, The Coffee Club, Pie Face, ELC, The Organic Pharmacy and The Loft Fifth Avenue. In addition to providing maximum convenience for Wasl vita tenants, the stores will add unique retail offerings to the Al Wasl area and its surroundings.

Wasl vita’s residential component comprises 25 one-bedroom, 33 two-bedroom and six three-bedroom apartments, with its total retail area covering 76,475 sq. ft. Each living space is characterised by porcelain tiles and accent mosaic walls creating a contemporary living environment. The development features a landscaped exterior, health club with swimming pool and 24-hour security. Such has been the demand for property at Wasl vita that nearly 2,000 prospective tenants (to date) have registered to be first in line since public viewing and leasing of the development commenced.

“We are delighted that the Wasl vita project is meeting such demand and we anticipate all residential units to be leased out in as short a timeframe as the retail units. The strong demand is partly because - with exception to Wasl’s other development in the locality, Wasl square - apartment living is a relatively new concept for the area,” said Zainab.

Wasl has recently opened a dedicated Customer Service Centre at Wasl vita to cater to its tenants in the development, as well as those residing in the wider area. Potential tenants will be able to immediately lease apartment’s on-location at the new Centre with convenience and speed.