[Dubai, UAE; January 14, 2014]: - wasl properties has announced the completion of the first phase of its AED 1.2 billion major Dubai heritage project, wasl district, with its centrepiece being a 55,000 square feet, 211-retail unit Souq. The mixed-use development, featuring residential and office buildings, as well as a hotel and furnished apartments, has been designed to celebrate the traditional culture of the city and is expected to be a major draw for both residents and visitors in the run-up to Expo 2020.
“wasl properties is pleased to announce that it has begun delivery of commercial units to investors in the wasl district Souq; the first phase of the wasl district project,” said Nabil Al Khaja, General Manager of Projects Management, at wasl. “This development is one of the most important to take place in Dubai as it revives the heritage of the UAE by rehabilitating the Al Maktoum Hospital area of Deira. The project will form a stunning showcase for the city leading up to Expo 2020, as it provides an opportunity for the anticipated millions of visitors as well as residents to discover the traditional identity of the city,” he added.
The concept of wasl district, which is located in the heart of Deira, is to evoke the spirit of ‘old’ Dubai, with its central Souq containing retail units that have been styled to embody traditional architecture. The market features four distinct themed areas each with a central courtyard and with columns of shops that will sell heritage items synonymous of Dubai’s unique culture, such as carpets, antiques, furniture, perfumes and spices as well as more modern ware, including electronic products and fashion items.
Lying at the Souq’s centre is a hospital museum, which showcases the work of one of Dubai’s earliest medical institutions, the Al Maktoum Hospital. The visitor facility was conceived as a tribute to the emirate’s strong contribution to the development of modern healthcare.
The traditional souq will also offer unprecedented investment opportunities for businessmen and corporations who will be able to benefit from a wide spectrum of retail outlets available for rent.
“The area of the Souq surrounding the Al Maktoum Hospital Museum will showcase retail products exclusively associated with the unique culture and heritage of Dubai with the aim of creating a traditional Emirati atmosphere for citizens and tourists,” said Al Khaja.
The second phase of wasl district will feature 356 residential units, including 115 furnished luxury apartments. It will also house 53 offices and a 196-room hotel managed by renowned hotel company Hyatt Hotels and Resorts. Phase two will continue with the theme of showcasing traditional Emirati architecture and will be characterised by narrow, winding sikkas or alleyways that lead onto picturesque courtyards containing water features. Supported by a wide range of restaurants and other amenities, such as a swimming pool, sports club and security services, phase two is expected to be completed by the close of 2015.
“wasl district embodies the true spirit of Dubai with its fusion of tradition and modernity,” said Al Khaja. “The development establishes a new style in real estate projects in Dubai and will undoubtedly become established as a unique destination in the city. The attention to detail and commitment to authenticity throughout will make it a first choice for residents and tourists seeking a historical cultural Emirati experience,” he added.