Monday, July 27, 2009

Wasl to offer 4000 new leasing units this year

Wasl, the Asset Management Group of Dubai Real Estate Corporation (Drec), will add 4000 new units to its leasing portfolio towards the end of the year, a company executive revealed.

These properties spread across Al Karama, Muhraisnah, Al Badaa, Emirates Golf Club, Al Quoz, Al Rashidivah, Ras Al Khor, Al Barsha and Muhaisnah, which includes apartments, villas and retail space.

Wasl has leased about 20,000 residential and commercial units around Dubai, and will also release about 131 villas in several areas of Dubai this year.

In Muhaisnah alone, the company has nine buildings, comprising 1715 apartments. The first phase of the project has 450 apartments with a total built-up area of 787,000 square feet, and will be available for lease shortly. The second phase with 1266 apartments will be available for lease later during the year. The development at Muhaisnah will comprise of studios, single, double and triple bedroom apartments.

The Ras Al Khor area will offer 19 residential buildings with 1732 apartments featuring great community amenities. Located in proximity to the Dubai-Hatta Highway, the project offers residents easy access to major arterial roads and is meant for a community-focused lifestyle. Leasing in the area will commence in October this year.

Additionally, the company plans to release 131 villas across various areas in Dubai, with 92 villas in Emirates Golf Club, 31 in Al Rashidiyah, and an additional 8 villas to the already existing 132 units at Al Badaa this year.

At Al Barsha the company will release two three-storey buildings, offering total of 471 residential units and 31 retail outlets, in proximity to the Mall of Emirates. The latest property here is the 162-unit residential building, offering studios, single, double and triple bedroom apartments. The building aims to cater to the lifestyle requirements of professional executives and families working in nearby business districts.

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