Wasl Properties

Wasl is a government linked Dubai developer and landlord, and one of the largest holders of rental property in Dubai.

Part of Dubai Real Estate Corporation, it is met by most people as a landlord rather than as a developer. It holds a very large portfolio of residential and commercial buildings across the older districts of Dubai, alongside hotels, leisure assets and newer master planned projects. If you rent in Deira or Bur Dubai, there is a reasonable chance Wasl is on the tenancy contract.

What do they build and hold?

A mix that is unusual in Dubai: long held leasehold apartment stock in the established districts, newer residential communities, retail centres, hotels and leisure assets. Because so much of the portfolio is held rather than sold, the tenant experience matters more here than the resale market.

Where do they operate?

• Deira, Bur Dubai and the older districts, where much of the rental portfolio sits.
• Wasl Gate, a newer community near Jebel Ali.
• Za'abeel, with residential and hotel development.
• Sheikh Zayed Road, with commercial and hospitality assets.

What should you check before renting from them?

• The specific building, since the portfolio spans buildings of very different ages and standards.
• What is included in the rent, particularly chilled water and maintenance.
• The maintenance process, which on a large institutional landlord is systematic but not always fast.
• Ejari registration, which is not optional. See Ejari explained.

Can you buy from them?

Much less often than you can rent. A large share of the portfolio is held for income rather than sold, and a good deal of it sits in leasehold districts where freehold ownership is not available. Buyers drawn to those central locations usually end up comparing freehold alternatives nearby such as Al Jaddaf or Business Bay.