16th December 2014

Wasl Sells Out First Phase of Hyatt Regency Creek Heights Residences

Dubai, UAE, December 15, 2014: Wasl, one of the UAE’s fastest growing property management organisations, has announced the selling out of the first phase of residential units in its mixed-use Hyatt Regency Creek Heights Residences. The new luxury project, located on the Dubai Creek, marks Wasl’s entry into Dubai’s freehold real estate sector for the first time, with customers able to move into their apartments immediately.

Wasl opened the door to prospective buyers for Hyatt Regency Creek Heights Residences’ apartments at Bani Yas Hall at the Grand Hyatt Hotel in Dubai today, December 15. Customers were able to purchase units from 9am until 7pm for apartments in the development, which is the fruit of Wasl’s three decades of experience in the construction, development and management of hotel property and of its close relationship with Hyatt, the renowned name in global hospitality. Business proved brisk, with the company making bulk sales to several investors. To ensure equitable representation for the country’s natural citizens, priority was given to UAE nationals.

"We would like to thank all our valued customers who have purchased new units at Hyatt Regency Creek Heights Residences,” said Zainab Mohammed, CEO Property Management and Corporate Communication, Wasl. “The new development has impressed potential buyers because of the high quality of the unit and because buyers are able to move in as soon as they wish. This means that they have a practical investment that is a home and one that starts working for them straight away,” she added.

Hyatt Regency Creek Heights Residences is 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 the project is the first of its kind in the city where buyers can purchase property that is ready. They can take possession immediately and move in, thereby maximising return on investment over the short and long term.

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 styled duplex apartments. It also houses a five-star Hyatt Regency Dubai Creek Heights Hotel with 443 premium rooms and an extensive Business Centre. The modern luxury elements that define Hyatt Regency Creek Heights Residences include state-of-the-art architectural concepts and beautiful interior engravings. Covering a total land area of 180,000 sq. ft and a built up area of 2.2 million sq. ft., the project’s 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.

"Wasl is proud to be supporting Dubai’s ongoing development and Hyatt Regency Creek Heights Residences represents a milestone on this journey. We intend to continue undertaking more projects in this sector, thereby ensuring the diversity of our portfolio in the freehold market in the coming years," added Zainab Mohamed. “The customers’ keenness to snap up units in this new development is further evidence that Dubai’s real estate sector is based on solid foundations. We are very grateful to the government for the legislation they have launched that provides the market with such high levels of transparency and credibility that are underpinning customer confidence,” she added.