Maktoum bin Mohammed chairs DREC Board meeting

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Dubai Real Estate Corporation (DREC), chaired a meeting of the DREC Board of Directors, during which he reviewed the 2025 performance of Wasl Group.

H.H. Sheikh Maktoum commended DREC and Wasl Group’s outstanding performance, which reflects Dubai’s robust real estate sector and its ability to drive sustainable growth and development.

He affirmed that the real estate sector remains a vital pillar of the emirate’s economy, supporting job creation, fuelling infrastructure development and helping anchor Dubai’s status as a leading global destination for living, investment and opportunity.

H.H. Sheikh Maktoum bin Mohammed said, “The vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has established a leading benchmark for urban planning and development. Today, 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.”

He directed Wasl Group to continue delivering innovative, high-impact real estate projects that advance the objectives of the Dubai Economic Agenda D33 and support the emirate’s ambition to rank among the world’s top three urban economies, while upholding to the highest standards of excellence and quality across the real estate, hospitality and entertainment sectors.

The meeting was attended by Hesham Abdulla Al Qassim, Vice Chairman; Mohamed Hadi Ahmed Al Hussaini; Rashid Mohammed Rashid Al-Mutawa; Shuaib Mir Hashem Khouri; Rashid Ali bin Oboud; and Abdulaziz Mohammed Al Mulla.

The DREC Board reviewed the latest developments in Wasl’s digital transformation journey, a strategic programme that has undergone extensive planning and has now entered its implementation phase, enhancing the customer experience, increasing operational efficiency, and supporting greater business capacity across the Group.

The Board also reviewed Wasl’s performance in the area of affordable housing, which remains a core pillar of the Group’s mission to provide Dubai’s residents with well-connected communities to live in.

The Board underscored this long-standing priority, noting that in 2025 Wasl reached 45,000 affordable residential units, a portfolio that today represents 85% of the Group’s residential leasing offering, providing residents with vibrant well-established communities with greenery, premium amenities and strong connectivity across Dubai.

Building on this progress, and in line with the Dubai 2040 Urban Master Plan, Wasl aims to double its residential leasing portfolio over the next years, further supporting housing accessibility for residents across various income levels.

Hesham Al Qassim, CEO of Wasl Group, commented, “At Wasl, we align our efforts with Dubai’s strategic direction to build an integrated economic and urban ecosystem that enhances quality of life and shapes a world-class city, where people aspire to live, work and invest. Under the guidance of our leadership, we remain committed to creating quality, affordable developments that drive real estate’s role in realising Dubai’s objectives and reinforcing its position as a global hub for talent and investments.”