Wasl, a semi-government entity established on May 25, 2008, by the Dubai Real Estate Corporation (DREC), oversees the development and management of Dubai’s real estate assets. It was formed through the merger of the Dubai Development Board and the Real Estate Department. Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum serves as chairman, with Hesham Abdulla Al Qassim as vice chairman and CEO. Notably, Wasl entered a joint venture with the Dubai Integrated Economic Zones Authority in 2017 to develop Dubai CommerCity. In 2021, it partnered with the UAE’s Ministry of Climate Change and Environment on the Food Tech Valley initiative. Wasl Properties, a subsidiary of Wasl Asset Management Group, was founded in 2008, managing 25,000 residential and commercial properties in key Dubai areas. The company has since expanded into the freehold real estate sector, developing iconic projects such as Hyatt Regency Creek Heights, Wasl Gardenia, Wasl Village, Tiara United Towers, and several community malls across the city.