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About wasl
wasl is an Asset Management Group owned by Dubai Real Estate Corporation(DREC), created to manage and develop its assets. It aims to grow into a globally competitive entity. wasl operates a wide spectrum of property management, project management and investment management services for DREC.
In line with the Government of Dubai’s Strategic Plan 2015 we are focused on building long term and sustainable growth for the benefit of our Stakeholders. We are positioning ourselves as a global player by developing a strong base of ‘Commercial Intelligence’ within the company that will facilitate effective decision-making and generate the growth in value which defines our reason for being.
At wasl, we have developed an internal Strategic Asset Management capability in order to review our Operational Strategies going forward. Key Business Areas that wasl is currently focused on are:
Property Management
This represents our core business activity today and encompasses ground-leasing of industrial lands, property leasing, both residential and commercial as well as facilities management within the Emirate of Dubai.
We have a strong focus on delivering an effective Customer Service Experience through the implementation of strategic initiatives that secure Customer Retention and therefore, our long term business.
Project Management
A comprehensive and effective Project Management capability is critical to delivering sustainable growth in asset value.
In developing and diversifying our Real Estate portfolio, we have adopted a panoptic approach. As well as conducting, for example, ‘highest and best use analysis’ techniques on individual plots, we have also targeted opportunities for major Urban Re-generation and Development, ‘affordable housing’ and ‘economic commercial’ facilities as well as high profile ‘flagship’ developments.
In line with our longer term strategic ambitions, within the context of Real Estate, our primary areas of focus are in the Residential, Commercial, Retail, Light-Industrial, Public Utilities, Leisure and Entertainment, including the Arts and Culture sectors.
Hospitality
The Government of Dubai’s strategic initiatives have targeted the Tourism Industry very effectively and the sector continues to feature heavily in terms of all future planning.
As an asset management group, we already have a strong foothold in this sector within Dubai. Our continuing research in this sector continues to suggest tremendous capacity for further expansion and segregation in service offerings, locally, regionally as well as internationally.
Looking ahead, further business development in this lucrative sector is very much at the centre of our overall Strategy, in order to support Dubai’s broader economic development across all sectors within in the Hospitality Industry.
Investment
As an asset management group our focus is very much on long term growth in asset value. In order to balance commercial risk with targeted investment returns we recognize the need to achieve a balanced portfolio across our business as well as controlled geographic diversification.
Our Commercial Intelligence capability will target opportunities for Equity investment, Mergers and Acquisitions and an active engagement in operating businesses that offer the potential for vertical or horizontal integration that are consistent with our overall Strategy of developing transferable knowledge and expertise.
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