31st March 2015

wasl properties launches ‘wasl hub’ in Karama

wasl properties launches ‘wasl hub’ in Karama

[Dubai, UAE, March 31, 2015] -  wasl properties, one of the largest real estate companies in Dubai and a subsidiary of wasl Asset Management Group, has announced the launch of ‘wasl hub’ - a new mixed-use project in the Karama neighbourhood of Dubai.

When completed at the end of 2016, wasl hub is expected to become a landmark in Karama due to its distinctive features and large retail area designed to make it a bustling and vibrant destination. The project will feature alley ways and paved temperature-controlled ‘sikkas’ in and around the project providing a comfortable walking environment for residents and visitors even during the hot summer months.

"The launch of wasl hub reflects the ambitions of our integrated strategic plan that focuses on enhancing many of the traditional areas of Dubai and specifically the Karama neighbourhood by providing contemporary living with shopping and entertainment options for residents and visitors alike,” said Hesham Abdullah Al Qassim, CEO of wasl Asset Management Group.

wasl hub earned its name due to its vast ​​170,000 sq/ft. area, of which 60,000 sq/ft. will be allocated to over 70 retail shops and 32 restaurants and cafes. The project will feature 312 apartments of one, two and three-bedrooms and provide ample parking to accommodate residents and visitors. The development aims to enhance the size and diversity of wasl properties’ portfolio in Karama and will offer additional services such as a swimming pool, children’s playground, indoor gyms and around the clock security.

“The design of this new project demonstrates wasl properties’ priority in incorporating contemporary characteristics to achieve the highest quality, thereby creating an ideal environment for those looking to upgrade to a more modern living style in Karama. wasl hub will become a destination for individuals and families who keen to enjoy walking, shopping and the wide range of dining and café outlets within the project,” added Al Qassim.

Today’s announcement follows wasl properties’ previous statements relating to the completion of two other projects in Karama in mid-2014; ‘wasl onyx’ and ‘wasl amber.’ Both of these developments were completely leased in just two weeks due to the high demand for household units and retail space in Karama. Earlier this year, the company announced the completion of ‘wasl ruby,’ also located in Karama, comprising 72 one, two and three-bedroom apartments with facilities that include a swimming pool, children's playground and gymnasium. wasl ruby was completely leased in a record 10 days. Adding to wasl’s impressive portfolio of properties in Karama is ‘wasl ivory,’ a premium development launched this month. wasl ivory comprises a total of 90 one, two and three-bedroom apartments and has a retail area spanning 13,463 sq/ft., incorporating 15 shops and five food and beverage outlets.

wasl's Karama projects form part of an integrated plan set by the company  to revitalise the district and transform it into a modern contemporary neighbourhood. The company is focusing on introducing a number of projects in the area that are characterised by distinctive architectural designs and modern amenities, providing high quality fit-outs and services and plenty of parking for residents and visitors. Since 2008, wasl has introduced a total of 566 residential units spread across seven projects in Karama. The company’s commitment to the area sees it with another seven other Karama projects in the pipeline that are to be built and completed between now and 2018. 

For each of its projects, wasl properties conducts comprehensive field research to study the market demand in different areas of Dubai and determine necessary requirements. The company also relies on feedback through its various customer service offices and its 24 hour call centre. A large percentage of inquiries the company receives are related to residential and commercial space in Al Karama, indicating a high demand for this important area of the city. It is a sought after area because of several factors, notably its proximity to major areas in Dubai and its high population density and vitality, which are considered important elements for the success of residential and retail projects.