Maktoum Bin Mohammed Chairs DREC Board Meeting To Discuss Wasl Group's 2025 Performance
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, chaired a meeting with the Dubai Real Estate Corporation (DREC) Board. During this session, he assessed Wasl Group's 2025 performance. He praised DREC and Wasl Group for their exceptional results, highlighting Dubai's strong real estate sector as a driver of sustainable growth.
Sheikh Maktoum emphasised the real estate sector's crucial role in Dubai's economy. It supports job creation, infrastructure development, and strengthens Dubai's position as a premier global destination for living and investment opportunities. His Highness stated, "The vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has established a leading benchmark for urban planning and development."
He instructed Wasl Group to continue delivering innovative real estate projects that align with the Dubai Economic Agenda D33. The aim is to elevate Dubai among the world's top three urban economies while maintaining high standards across real estate, hospitality, and entertainment sectors. This directive underscores the commitment to quality and excellence.
The meeting also included key figures such as Hesham Abdulla Al Qassim, Vice Chairman; Mohamed Hadi Ahmed Al Hussaini; Rashid Mohammed Rashid Al-Mutawa; Shuaib Mir Hashem Khouri; Rashid Ali bin Oboud; and Abdulaziz Mohammed Al Mulla. They discussed Wasl’s digital transformation journey, which is now in its implementation phase.
The strategic digital programme aims to enhance customer experience and operational efficiency while expanding business capacity across the Group. This initiative reflects Wasl’s commitment to modernising operations and improving service delivery for its stakeholders.
Wasl’s affordable housing efforts were also reviewed during the meeting. In 2025, Wasl achieved 45,000 affordable residential units, making up 85% of its residential leasing portfolio. These communities offer greenery, premium amenities, and excellent connectivity throughout Dubai.
Commitment to Affordable Housing
Aligned with the Dubai 2040 Urban Master Plan, Wasl plans to double its residential leasing portfolio in coming years. This expansion will further support housing accessibility for residents across different income levels, ensuring well-connected communities are available for all.
Hesham Al Qassim, CEO of Wasl Group, remarked on their alignment with Dubai’s strategic direction: "At Wasl, we align our efforts with Dubai’s strategic direction to build an integrated economic and urban ecosystem that enhances quality of life." He highlighted their dedication to creating developments that contribute to Dubai’s global reputation as a hub for talent and investments.
The discussions at this meeting reflect a broader strategy aimed at sustaining growth in Dubai's real estate sector while ensuring it remains accessible and beneficial to all residents. The focus on innovation and affordability is central to achieving these objectives.
With inputs from WAM
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