Wasl properties, one of the largest real estate companies in Dubai, UAE, has officially announced the launch of its key heritage project, wasl district souq, that aims at revitalising the traditional areas of the emirate.
 
A subsidiary of wasl Asset Management Group, the Dubai company said the move comes in line with its drive to maintain Dubai’s rich heritage through culturally sensitive real estate projects.

Hesham Al Qassim, the chief executive of wasl Asset Management Group, inaugurated the souq located in the Naif area of Deira amid a wide range of entertainment programme.

Wasl district is being constructed in two phases, with the first set to house 211 retail units selling heritage items such as rugs, antiques, furniture, perfumes and spices alongside more modern offerings and F&B outlets. The second phase incorporates residences, offices and a Hyatt-managed hotel.

Speaking at the launch. Al Qassim said: "The project is aimed at rejuvenating parts of Dubai that have tended to be overlooked and that are just as important and dynamic as the newer areas of the city."

"The wasl district is the result of our vast experience in the fields of real estate development and deep understanding of the country’s history and heritage. It blends traditional character with modern amenities to create an authentic retail and shopping environment," the top official said.

Wasl properties, he stated, manages an extensive real estate portfolio of over 25,000 residential and commercial properties within the emirate of Dubai.

According to him, the wasl district’s souq plays a number of important roles in the fabric of the city.

"It has contributed to re-energising the Al Maktoum area of Deira and is a development that forms a stunning showcase for the anticipated millions of visitors in the run up to Expo 2020, enabling them to discover the traditional identity of the city," stated Al Qassim.

"Overall, the development is expected to be a strong pull for tourists keen to see traditional Emirati architecture and culture," he added.-TradeArabia News Service