25th November 2014

wasl Enters Dubai Freehold Property Sector for First Time

Dubai, UAE, November 25, 2014: wasl Asset Management Group, one of the UAE’s fastest growing property management organisations, has announced the launch of a new development that sees it entering Dubai’s freehold real estate sector for the first time. Named: Creek Heights, the project is the fruit of wasl’s three decades of experience in the construction, development and management of hotel and leisure property and of its close relationship with Hyatt, an organisation with a renowned reputation in the global hospitality sector.


Creek Heights comprises of three components, the first component is a fully furnished branded freehold luxury apartment building named Hyatt Regency Creek Heights Residences, the second component is an ultra-modern, contemporary hotel named Hyatt Regency Dubai Creek Heights and the third component is the Hyatt Regency Dubai Creek Heights Conference centre. Situated at a prime location on the Dubai Creek, the complex is just 10 minutes from both the old areas of the city and from its more modern Downtown, Burj Khalifa, and Dubai International Financial Centre. It is also very close to Dubai International Airport and the scenic Creek Park. The development marks a significant achievement for Dubai, as it is the first of its kind in the city where buyers can purchase property that is ready and owners will be able to take possession immediately.

"Hyatt Regency Creek Heights marks wasl Group’s first venture into Dubai’s freehold market and we are confident of its success as an attraction for investors and buyers who wish to move into ready apartments,” said HE Hesham Abdullah Al Qassim, CEO of wasl Asset Management Group. “Dubai’s real estate sector is based on solid foundations thanks to the pre-emptive legislation launched by our government to ensure that the market offers a high level of transparency and credibility. Added to this is our company’s wealth of experience in asset management and real estate customer service – attributes that mark us out from our competitors in this sector," he added.

Hyatt Regency Creek Heights Residences 43-floor residential tower is home to 405 luxury units; comprising 111 studios, 138 one-bedroom, 107 two-bedroom, 43 three-bedroom and 6 one-, two-, three- and four-bedroom loft apartments. The five-star Hyatt Regency Dubai Creek Heights Hotel boasts443 premium rooms and facilities that include four restaurants, two lounges, a spa, three gyms, one of which is female only, two pools. Its extensive Business Centre offers an array of meeting rooms and provides full conference capabilities. Ample parking is available for tenants of the residential tower and hotel guests, situated within the development’s four-storey basement. A total of 1,117 parking spaces are available and each freehold unit will be allocated a specified parking bay. The entire project covers a total land area of 180,000 sq. ft and a built up area of 2.2 million sq. ft.

The modern luxury elements that define Hyatt Regency Creek Heights Residences include state-of-the-art architectural concepts and beautiful interior engravings. Its distinct contemporary ambience complements wasl’s other recent developments, such as wasl district, wasl trio and wasl vita, which have been designed to highlight Dubai’s rich heritage and to regenerate the city’s prominent areas. The company says that its array of real estate offerings that cover the spectrum of the modern and the traditional greatly provide for Dubai as it gears up to host Expo 2020.

"As wasl is a semi-governmental organisation, we feel a great responsibility in supporting Dubai’s vision and development, especially when it comes to promoting the city’s image before the world. Our entry into the Dubai freehold property sector represents a milestone on this journey. We intend to continue on the same path and utilise land in strategic locations throughout the emirate, enabling us to undertake more projects in this sector and ensure the diversity of our portfolio in the freehold market in the coming years," added Al Qassim.

Hyatt Regency Creek Heights Residences and Hyatt Regency Dubai is the latest residential and hospitality development from wasl’s long-term partnership with Hyatt, one of the world’s leading hotel brands. The company has developed a reputation for innovation over its more than 50 years in the industry.

“Hyatt Regency Dubai Creek Heights will offer business travellers, convention participants and leisure seekers the memorable experience that is synonymous with our popular Hyatt Regency brand.  Both wasl and Hyatt are known for the highest standards of service, design and quality. We have great confidence in any project that wasl launches as we have a long-standing relationship with the company that has resulted in extremely successful ventures, such as Grand Hyatt Dubai, Park Hyatt Dubai, Hyatt Regency Dubai and Hyatt Place Dubai/Al Rigga.  We are delighted to be partnering once again with wasl and look forward to making this unique and multi-faceted project a great success.  ," said Peter Fulton, Group President Europe, Africa, Middle East and Southwest Asia, Hyatt Hotels and Resorts.

Hyatt Regency Creek Heights Residences will open for interested investors to preview apartments from today, November 26. The sale of apartments will commence on December 15, 2014.