wasl properties (wasl Asset Management Group)

Government landlord that sells freehold in small, well-located batches

Since 2003 · Dubai + London · Licence 601049 · RERA ORN 1219

At a glance

Government landlord that sells freehold in small, well-located batches

wasl is as safe a counterparty as Dubai offers: it is owned by the Dubai Real Estate Corporation, chaired by Sheikh Maktoum bin Mohammed, and its parent reported 28 per cent revenue growth in 2024.

Read our full verdict

Its freehold sales are a sideline to a rental estate of more than 55,000 units, so it tends to launch in phases, sell quickly (South Garden sold 768 flats in 48 hours; One B Tower's first two phases went in two days) and build on land it already owns. Delivery has been steady rather than fast: Gardenia Townhomes handed over on schedule in December 2019 and Park Gate Residences in January 2021, though some wasl gate apartment phases launched years ago are still listed as ongoing. The main cautions are practical: wasl publishes very little pricing or payment detail on its own site, so most figures come from portals; its plans are heavier on handover than many private developers (40 to 60 per cent due at completion); and the Jumeirah Golf Estates expansion is a 4.68 million square metre masterplan whose infrastructure is only now being built.

Reviewed by Ayman Hoque, Operations Manager, Live Dubai InternationalDubai Land Department broker card no. 55937 · Checked November 2026 · 42 sources

What wasl does well

Government ownership and land already in hand: wasl builds on DREC land, so there is no land-financing risk and no third-party master developer to depend on.
Locations private developers cannot get: Zabeel Park frontage, a metro-adjacent site on Sheikh Zayed Road and the expansion land around Jumeirah Golf Estates.
Demand at launch has been strong and documented: South Garden's 768 units sold within 48 hours; One B Tower phases 1 and 2 sold within two days; Gardenia Townhomes I sold 257 units within hours and phase II sold out.

All 5 points in full

Government ownership and land already in hand: wasl builds on DREC land, so there is no land-financing risk and no third-party master developer to depend on.
Locations private developers cannot get: Zabeel Park frontage (wasl1), a metro-adjacent site on Sheikh Zayed Road (wasl gate) and the expansion land around Jumeirah Golf Estates.
Demand at launch has been strong and documented: South Garden's 768 units sold within 48 hours (October 2024); One B Tower phases 1 and 2 sold within two days (May 2024); Gardenia Townhomes I sold 257 units within hours and phase II sold out (2023).
On-schedule handover record on the two freehold phases we could check: Gardenia Townhomes (December 2019) and Park Gate Residences (January 2021).
First-time buyer allocation: Nine Collective and Boulevard Park reserve units for buyers registered under the Dubai Land Department's First-Time Home Buyer programme (homes under AED 5 million).

Before you buy, check

wasl publishes almost no prices, sizes or payment terms on its own site.
Payment plans are back-loaded: Avenue Park Towers II is 40/60, Nine Collective 5/35/60, Cedarwood 10/40/50.
Jumeirah Golf Estates - The Next Chapter is a 4.68 million square metre, 12,345-home masterplan.

All 6 points in full

wasl publishes almost no prices, sizes or payment terms on its own site. Most figures below come from a major portal and should be confirmed against the developer's current price list before anything is quoted to a client.
Payment plans are back-loaded: Avenue Park Towers II is 40/60, Nine Collective 5/35/60 (portal), Cedarwood 10/40/50. A large sum is due at handover, which matters if a buyer plans to flip or needs a mortgage at completion.
Jumeirah Golf Estates - The Next Chapter is a 4.68 million square metre, 12,345-home masterplan. The headline amenities (new 18-hole course, Mandarin Oriental, tennis stadium, Etihad Rail station) are promised, not built; the main infrastructure contract was only awarded in 2026.
Handover dates for the newest launches are 2029 to 2030, so buyers are committing capital for three to four years with no rental income.
Some portal data on wasl projects is visibly inconsistent (sizes, unit counts, one duplex price lower than a two-bed). We have flagged these in each project file and left out figures that looked wrong.
No freehold commercial (office or retail) launches were found: wasl keeps its offices and shops for leasing. Buyers wanting wasl commercial stock would be tenants, not owners.

Projects

wasl projects you can buy

10 projects with a checked page. Starting prices are the developer’s published figures; we send today’s price list on request.

wasl · wasl1Avenue Park TowersFrom AED 2.1m≈ £428k · $572kPlanNot publishedHandoverQ4 2028

wasl · wasl1Avenue Park Towers IIFrom AED 1.9m≈ £387k · $517kPlan40/60HandoverQ1 2030

wasl · wasl gateBoulevard ParkFrom AED 900,000≈ £183k · $245kPlanNot publishedHandoverQ2 2029

See all 10 projects7 more with a checked page, a table to compare them

wasl · Jumeirah Golf Estates - The Next ChapterCedarwood Estates SouthFrom AED 13.35m≈ £2.72m · $3.64mPlan10/40/50HandoverQ1 2029

wasl · wasl1Nine CollectiveFrom AED 4.5m≈ £917k · $1.23mPlan5/35/60HandoverQ2 2030

wasl · Sheikh Zayed Road at Business BayWaterfrontOne B TowerFrom AED 3.96m≈ £807k · $1.08mPlanNot publishedHandoverQ4 2027

wasl · Jumeirah Golf Estates - The Next Chapter (Pinewood Village district)Pinewood Estate HomesFrom AED 5.6m≈ £1.14m · $1.52mPlan10/70/20HandoverQ4 2028

wasl · wasl gateSouth GardenFrom AED 630,000≈ £128k · $172kPlan10/50/40HandoverQ2 2028 for phases D and E

wasl · Jumeirah Golf Estates - The Next ChapterSold out · resalesAshwood EstatesLaunched from AED 12m≈ £2.44m · $3.27mPlan10/70/20HandoverDecember 2028

wasl · Jumeirah Golf Estates - The Next ChapterSold out · resalesCedarwood EstatesLaunched from AED 12.8m≈ £2.61m · $3.49mPlan10/40/50HandoverQ1 2029

Compare them in a table10 projects the developer is selling: area, plan, handover, bedrooms

wasl properties (wasl Asset Management Group) projects selling now: area, payment plan, handover date and bedrooms
				Bedrooms
Nine Collective	wasl1, Al Kifaf (Zabeel Park)	5/35/60	Q2 2030	2, 3, 4, 5 (duplexes and duplex penthouses at the top)
Avenue Park Towers II	wasl1, Al Kifaf	40/60	Q1 2030	1, 2, 3 apartments; 3 and 4-bed duplex penthouses
Avenue Park Towers	wasl1, Al Kifaf	Not published	Q4 2028	1, 2, 3 apartments; 3 and 4-bed duplexes
Boulevard Park	wasl gate, Jebel Ali	Not published	Q2 2029	Studio, 1, 2, 3; 2 and 3-bed duplexes; 3-bed penthouses; 4-bed townhouses
South Garden (phases D and E)	wasl gate, Jebel Ali	10/50/40	Q2 2028 for phases D and E	Studio, 1, 2, 3
Cedarwood Estates South	Jumeirah Golf Estates - The Next Chapter	10/40/50	Q1 2029	4, 5, 6
Cedarwood Estates (North)	Jumeirah Golf Estates - The Next Chapter	10/40/50	Q1 2029	4, 5, 6
Pinewood Estate Homes	Jumeirah Golf Estates - The Next Chapter (Pinewood Village district)	10/70/20	Q4 2028	3, 4
Ashwood Estates	Jumeirah Golf Estates - The Next Chapter	10/70/20	December 2028	4, 5, 6
One B Tower	Sheikh Zayed Road / Business Bay, on the Dubai Water Canal	Not published	Q4 2027	1, 2, 3, 4, 5; duplexes; penthouse

Tap a column heading to sort. Dates as checked November 2026.

Track record

Does wasl finish on time?

wasl does not publish a delivery scorecard.

Promised against what happenedProject by project (5)

ProjectGardenia Townhomes, wasl gate (257 townhouses)
PromisedMove-in before end of 2019
What happenedHandover began December 2019; remaining units by end of January 2020
ProjectPark Gate Residences, wasl1 (746 apartments)
PromisedNot published in sources read
What happenedHandover began January 2021
ProjectThe Nook 1, wasl gate (299 apartments)
PromisedSold ready-built
What happenedLaunched June 2022 as ready-to-move-in with 20% down and 3 years post-handover
ProjectGardenia Townhomes II, wasl gate (92 townhouses)
PromisedQ3 2024
What happenedSold out February 2023; completion not confirmed in sources read
ProjectSouth Garden A, wasl gate (768 units)
PromisedNot published at launch; portal shows Q4 2027
What happenedSold out in 48 hours, October 2024; under construction
In progress

Projects they have finished4

Gardenia Townhomeswasl gate, Jebel Ali · TownhousesCompleted 2019

Park Gate Residences (wasl1 phase 1)Al Kifaf, Zabeel Park · ApartmentsCompleted 2021

The Nook 1 and 2wasl gate, Jebel Ali · ApartmentsCompleted 2022

Hyatt Regency Creek Heights ResidencesDubai Healthcare City · ApartmentsCompleted 2014

Payment plans

wasl payment plans

A typical wasl plan

5%35%60%

On bookingDuring constructionOn handover

On a home priced at AED 1,000,000 that is AED 50,000 on booking, AED 350,000 during construction, AED 600,000 on handover. Government registration fees are paid on top.

Payment plansVary by project and are mostly back-loaded: 40/60 at Avenue Park Towers II; 5/35/60 at Nine Collective, 10/40/50 at Cedarwood, 10/70/20 at Pinewood and Ashwood, 10/50/40 at South Garden E.

Vary by project and are mostly back-loaded: 40/60 at Avenue Park Towers II (wasl.ae); 5/35/60 at Nine Collective, 10/40/50 at Cedarwood, 10/70/20 at Pinewood and Ashwood, 10/50/40 at South Garden E (all per a major portal). Gardenia Townhomes II was 40/60.

Post-handover plansUsed on ready stock: The Nook offered 20% down and the balance over three years after moving in.

Used on ready stock: The Nook (2022) offered 20% down and the balance over three years after moving in. None published for the current off-plan launches.

Golden Visawasl does not advertise visa terms. Eligibility depends on the registered purchase value meeting the UAE's property-linked residence threshold; check the current rule against the unit price, as the Jebel Ali studios and 1-beds are priced well below the villa and wasl1 stock.

wasl does not advertise visa terms. Eligibility depends on the registered purchase value meeting the UAE's property-linked residence threshold; check the current rule against the unit price, as the Jebel Ali studios and 1-beds are priced well below the villa and wasl1 stock.

Mortgages on off-planNot published by wasl. Ask the bank; UAE banks generally lend against off-plan from approved developers at lower loan-to-value than ready homes.

Not published by wasl. Ask the bank; UAE banks generally lend against off-plan from approved developers at lower loan-to-value than ready homes.

Service chargesNot published for the off-plan launches. Check the RERA service charge index for the completed wasl gate and wasl1 buildings as a guide.

Not published for the off-plan launches. Check the RERA service charge index for the completed wasl gate and wasl1 buildings as a guide.

Buyer protectionFreehold sales are registered with the Dubai Land Department and paid into RERA escrow; the First-Time Home Buyer programme applies at Nine Collective and Boulevard Park for homes under AED 5 million.

Freehold sales are registered with the Dubai Land Department and paid into RERA escrow; the First-Time Home Buyer programme applies at Nine Collective and Boulevard Park for homes under AED 5 million.

Is wasl right for you?

wasl suits buyers who put counterparty safety and location ahead of launch discounts: a government landlord with no land debt, building beside Zabeel Park, by a metro station on Sheikh Zayed Road, or on the golf course at Jumeirah Golf Estates.

Talk to an adviser or send an enquiry

More about wasl

Prices and rental returnswasl publishes no resale or rental data for its freehold stock.

South Garden E (studio, 412 sq ft)

AED 1,549/sq ftNot published yield

South Garden E (1-bed, 870 sq ft)

AED 1,448/sq ftNot published yield

South Garden E (2-bed, 1,229 sq ft)

AED 1,389/sq ftNot published yield

Ashwood Estates (4-bed villa, 6,329 sq ft)

AED 1,934/sq ftNot published yield

See the full figures

wasl publishes no resale or rental data for its freehold stock. A major portal shows recent registered resales at South Garden E (studio AED 638,000 at 412 sq ft in June 2026; 1-bed AED 1,260,000 at 870 sq ft in July 2026; 2-bed AED 1,707,000 at 1,229 sq ft in August 2026) against launch pricing from AED 630,000, AED 1.1 million and AED 1.4 million respectively, and at Ashwood Estates (4-bed AED 12,242,000 at 6,329 sq ft). These are single transactions, not an index, and yields are not published.

Community	Price per sq ft	Change	Gross yield
South Garden E (studio, 412 sq ft)	AED 1,549 (June 2026)	About +1% on the AED 630,000 launch floor	Not published
South Garden E (1-bed, 870 sq ft)	AED 1,448 (July 2026)	About +15% on the AED 1.1m launch floor	Not published
South Garden E (2-bed, 1,229 sq ft)	AED 1,389 (August 2026)	About +22% on the AED 1.4m launch floor	Not published
Ashwood Estates (4-bed villa, 6,329 sq ft)	AED 1,934 (2026)	Launch price not published by wasl	Not published

Asking prices, gross yields, as checked November 2026. Work out a net return

Questions about wasl7 answered from this page’s facts

Is wasl a reliable developer?

wasl is as safe a counterparty as Dubai offers: it is owned by the Dubai Real Estate Corporation, chaired by Sheikh Maktoum bin Mohammed, and its parent reported 28 per cent revenue growth in 2024.

Who owns wasl?

Dubai Real Estate Corporation (DREC), a Government of Dubai entity. Chairman Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum; Group CEO Hesham Abdulla Al Qassim.

Is wasl government-owned?

Yes. wasl Asset Management Group was established by the Dubai Real Estate Corporation in May 2008 and is chaired by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Dubai's First Deputy Ruler.

Does wasl sell offices or shops off-plan?

We found no freehold commercial launches in 2025 or 2026. Avenue Park Towers and Boulevard Park include retail at podium level, but wasl keeps commercial space for leasing.

Which wasl projects are open for sale now?

As of November 2026: Nine Collective and Avenue Park Towers II at wasl1; Boulevard Park and South Garden phases at wasl gate; Cedarwood Estates South and Pinewood Estate Homes at Jumeirah Golf Estates. Cedarwood North, Ashwood Estates and One B Tower are reported sold out from the developer.

Has wasl delivered on time before?

On the phases we could check, yes: Gardenia Townhomes handed over from December 2019 as promised and Park Gate Residences from January 2021. wasl does not publish a full delivery record.

What are wasl1, wasl gate and The Next Chapter?

wasl1 is the freehold district beside Zabeel Park in Al Kifaf. wasl gate is a 1.13 million sq m masterplan by Energy Metro station in Jebel Ali with an 82,700 sq m central park. The Next Chapter is the 4.68 million sq m expansion of Jumeirah Golf Estates announced in May 2025.

Everything elseHistory, company facts, sources

wasl’s story

May 2008wasl Asset Management Group established by the Dubai Real Estate Corporation, merging the Dubai Development Board and the Real Estate Department, with about 25,000 properties at inception.
2014Entered the freehold market with Hyatt Regency Creek Heights residences.
2017Dubai CommerCity joint venture with the Dubai Integrated Economic Zones Authority.
December 2019Began on-schedule handover of the 257 Gardenia Townhomes at wasl gate.
January 2021Began handover of Park Gate Residences, the 746-apartment first phase of wasl1.
April 2022Launched wasl Village in Al Qusais: 6,200 rental homes in 62 buildings (leasing, not sale).
February 2023Gardenia Townhomes II (92 townhouses from AED 2.9 million) sold out in its second phase.
May 2024Launched One B Tower on Sheikh Zayed Road; phases 1 and 2 sold within two days.
October 2024South Garden at wasl gate: all 768 units sold within 48 hours.
November 2024DREC board reported 28 per cent revenue growth for January to October 2024; portfolio of more than 55,000 units.
February 2025Launched Avenue Park Towers at wasl1.
May 2025Unveiled Jumeirah Golf Estates - The Next Chapter: 4.68 million sq m, 12,345 homes, six districts.
June 2025First Next Chapter sales launch: Pinewood Estate Homes (3 and 4-bed estate homes, 2,383 to 7,269 sq ft).
September 2025Ashwood Estates sales event: 185 golf villas, completion scheduled December 2028.
December 2025DREC board reviewed 2025: 45,000 affordable rental homes reached; plan to double the leasing portfolio.
February 2026Nine Collective (215 residences, wasl1) and Cedarwood Estates (121 golf villas) opened for sale.
April 2026Opened the 82,700 sq m Central Park at wasl gate.
May 2026Launched Cedarwood Estates South (74 villas) after Cedarwood North sold out.
July 2026Avenue Park Towers II at wasl1 opened for booking (portal date).

Founded: 25 May 2008, formed from the Dubai Development Board and the Real Estate Department (wasl.ae About Us; Wikipedia)
Ownership: Dubai Real Estate Corporation (DREC), a Government of Dubai entity. Chairman Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum; Group CEO Hesham Abdulla Al Qassim
Homes delivered: Not published as a single figure. Portfolio of more than 55,000 residential and commercial units, more than 35 hotels and more than 5,500 industrial plots (DREC board, November 2024); about 45,000 affordable rental homes (DREC board, December 2025)
Projects: Freehold masterplans: wasl1 (Al Kifaf), wasl gate (Jebel Ali), Jumeirah Golf Estates - The Next Chapter, One B Tower (Sheikh Zayed Road). Leasing: wasl Village, wasl Green Park, Wasl Tower and others
Credit rating: Not published
Best known for: Being Dubai's largest government landlord; wasl1 next to Zabeel Park; wasl gate by Energy Metro station; the 2025 expansion of Jumeirah Golf Estates

Compare with all 28 developers

Sources and how we checked42 sources, checked November 2026

Facts checked November 2026 from the developer’s own announcements and results, Dubai Land Department records (via Property Finder, DXBinteract and Propsearch), Bayut market reports and the press. Figures given by the developer are labelled as theirs. This page is information, not financial advice.