Sheikh Maktoum Bin Mohammed Reviews Dubai Real Estate Performance
Overview of the Meeting
Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, who holds multiple influential positions including the First Deputy Ruler of Dubai and Deputy Prime Minister, recently chaired a significant meeting of the Dubai Real Estate Corporation (DREC) Board of Directors. During this assembly, he focused on the 2025 performance metrics of Wasl Group, a major player in Dubai’s real estate sector.
Recognition of Achievements
Sheikh Maktoum expressed his appreciation for the remarkable achievements of both DREC and Wasl Group, emphasizing that their success is a clear reflection of the strength of Dubai’s real estate market. This sector not only fosters sustainable growth but also plays a crucial role in the overall economic landscape of the emirate.
In his remarks, he stressed that “the real estate sector remains a vital pillar of the emirate’s economy.” He highlighted that it supports job creation and facilitates extensive infrastructure development, thereby solidifying Dubai’s position as a prominent global hub for living, investment, and various opportunities.
Vision for Urban Development
Sheikh Maktoum credited His Highness Sheikh Mohammed bin Rashid Al Maktoum’s vision as instrumental in establishing high standards for urban planning and development within the emirate. He stated, “Dubai continues to realise this vision through world-class real estate projects that enhance our quality of life and bolster the emirate’s global competitiveness.”
This strategic direction encourages ongoing innovation and excellence, ensuring that Dubai remains an attractive destination for residents and investors alike.
Commitment to Future Projects
During the meeting, Sheikh Maktoum directed Wasl Group to maintain its commitment to delivering innovative and high-impact real estate projects that align with the Dubai Economic Agenda D33. This initiative aims to position the emirate among the world’s top three urban economies. Emphasizing quality and standards, he urged the Group to uphold excellence across its various sectors, including real estate, hospitality, and entertainment.
Attendance and Collaborative Efforts
The meeting included notable attendees such as Hesham Abdulla Al Qassim, Vice Chairman; Mohamed Hadi Ahmed Al Hussaini; and several other key Board members. Their collective expertise and insight reinforce the collaborative effort necessary for achieving the ambitious targets set for Dubai’s real estate landscape.
Digital Transformation Initiatives
A key agenda point was the discussion of Wasl’s ongoing digital transformation journey. This strategic initiative, which is now entering its implementation phase, aims to enhance customer experiences, improve operational efficiency, and expand business capabilities across the organization. Such advancements are vital for aligning with modern market demands and improving service delivery in Dubai’s competitive real estate sector.
Focus on Affordable Housing
The Board also evaluated Wasl’s progress in providing affordable housing, which remains a cornerstone of the Group’s mission. In 2025, Wasl successfully achieved the delivery of 45,000 affordable residential units, representing 85% of the Group’s leasing portfolio. Sheikh Maktoum emphasized the importance of offering well-connected communities that cater to the diverse needs of Dubai’s residents.
This strategy will play a significant role in ensuring that Dubai remains accessible for individuals across various income brackets, fostering a sense of community fueled by quality living conditions.
Future Aspirations
Looking ahead, Wasl Group is set to double its residential leasing portfolio in alignment with the Dubai 2040 Urban Master Plan. This ambitious plan aims to further increase housing accessibility, providing options for residents at all economic levels.
Hesham Al Qassim, CEO of Wasl Group, expressed commitment to aligning their initiatives with Dubai’s strategic goals. He noted, “At Wasl, we align our efforts with Dubai’s strategic direction to build an integrated economic and urban ecosystem.” This forward-thinking approach aims to enhance the quality of life for all residents while reinforcing Dubai’s status as a global hub for talent and investment.
Conclusion
The recent meeting chaired by Sheikh Maktoum Bin Mohammed underscores the commitment of Dubai’s leadership to not only maintain but also elevate the standards of the real estate sector. With ongoing efforts in digital transformation and affordable housing, the future looks promising for residents and investors in this dynamic city.
