Four new real estate projects worth a total of US $ 10,89 billion are to be launched by Wasl in Dubai within next 12 months.
The first project is almost completed to date. It includes a 6 million square feet site in the area of Nad Al Hammar Gardens ready for 115 new real estate complexes to be constructed there. Wasl here acts only as a master developer and carries basic infrastructure and enabling works, and properties overlooking Mohammed bin Zayed Road will be constructed by other companies.
The second project involves the construction of Wasl Tower, which will house an office center, a hotel, residential apartments, as well as vertical gardens and a light museum. The active phase of this complex construction will begin in the first months of 2016. According to the developer, the complexity of this project is that it will actually be a real "vertical city".
The third project Wasl Park 1 will have an area of 1.3 million sq ft near Al Jafiliya metro station and will include 12 multi-storey towers, four of which will be launched in the first half of the next year. Two of them will have 27 stores and another two — 21 stores each.
Finally, the fourth Wasl project will be situated in Jebel Ali area. Wasl Gate Park will accommodate a park equal in size to Al Safa Park, as well as the innovation center to support start-ups, and also offices, hotels, apartments and villas. The construction of the first 200 villas here will start at the end of the next year second quarter.