Brand View: Wasl Asset Management Group

Dubai-based company contributes to tourism and hospitality industry with a range of projects, many of which are 'firsts' for the region

A rendering of the Mandarin Oriental property on Jumeira Beach in Dubai, UAE.
A rendering of the Mandarin Oriental property on Jumeira Beach in Dubai, UAE.

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One of the largest real estate management and development companies in Dubai, wasl Asset Management Group, has always aimed to strengthen Dubai’s position as the premier hub to live and work in and at the same time be the ultimate destination for tourists — and its recent announcements have proved how it has been successful.

One among its many stand-out projects include the development of a hospitality and tourism destination on a one-million-square-foot semi artificial island on Jumeira’s beachfront, which will see wasl and MGM bringing two internationally renowned hotels to Dubai (an MGM hotel and a Bellagio resort), in addition to a luxury hotel apartment building and a number of leisure and entertainment facilities that bring the total built-up area of the project to nearly 3.6 million square feet.

The MGM Hotel and Bellagio Resort will be entering the Middle East for the first time, and are due for completion in only four years’ time.

Another big luxury project that wasl is working on is Dubai’s second luxury Mandarin Oriental hotel, which is due to open in November 2020. The new location in Dubai’s Commercial District of Sheikh Zayed Road will complement wasl’s Mandarin Oriental hotel on the waterfront at Jumeira Beach, which will open in the fourth quarter of 2018. The new hotel, which will also offer luxury residences, will be the centrepiece of the 63-storey mixed-use wasl Tower which is located on Sheikh Zayed Road.

And it’s not just luxury projects that wasl is developing; the company has responded quickly to the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to answer the accommodation needs of several segments of Dubai visitors. Over the past few years, the company has completed the Hyatt Place Baniyas hotel with 126 rooms; Hilton Garden Inn — Al Mina with 182 rooms; Hilton Garden Inn — Al Muraqabbat with 175 rooms; and Hyatt Place Al Rigga with 210 rooms and 84 furnished apartments.

In total, the company has planned to develop 15 hotels, with four mid-range hotels already completed, two more due for completion this year, and the remainder still under development and due for completion by 2020.

On that note, wasl recently launched the Hyatt Centric The Palm Dubai hotel project in collaboration with an affiliate of Hyatt Hotels Corporation. The twin 15-storey hotel will bring 217 rooms and 116 serviced apartments to Dubai’s hospitality and residential sectors, enhanced by a fitness centre and spa, four restaurants, meeting facilities, and beachfront access. Designed with the modern-day and responsible traveller in mind, the rooms will also be equipped with environmentally conscious bath products and Bluetooth-enabled electronics.

His Excellency Hesham Al Qassim, CEO of wasl Asset Management Group, said: “Everything we do at wasl is driven by a duty to support the government’s vision of making Dubai the best city to visit, work and live in. We are pleased to be furthering this ambition with the launch of an unprecedented number of major hotel projects in 2017, which will bring globally acclaimed hospitality players including MGM and Mandarin Oriental to Dubai. By working with such celebrated hotel and resort operators, we are significantly raising the bar of excellence across the board —from mid-range to the height of luxury. We are confident that these projects will cement Dubai’s position as one of the world’s favourite destinations by offering not only tourists, but also residents and visitors, ever more extraordinary experiences and opportunities.”

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