Wasl properties, one of the largest real estate companies in Dubai, has announced 100 per cent leasing of the 54 stores at its latest development, wasl vita.

A subsidiary of wasl Asset Management Group, the company offers a blend of mixed-use residential and commercial property aimed at adding to the busy thoroughfare with its unique feature of Californian architecture housing modern amenities.

“We have witnessed demand for retail space in Dubai increase tremendously. This year alone, wasl properties has been able to lease 265 shops collectively in a span of just five months,” said Zainab Mohammed, the CEO of Property Management and Marketing at wasl.
 
“Our latest development, wasl vita has been designed to enhance the Al Wasl area, a popular district of Dubai. We aim to create a vibrant new community that will offer numerous facilities, making it also a focal point for others to visit, as well as being an example of our commitment to launching mixed-use developments to modernise and boost key areas of Dubai,” she added.

Located in the Al Wasl Road area in Jumeirah and in line with the real estate organisation’s corporate strategy, wasl vita has been developed to breathe new life into a key area of Dubai.

In addition to its main Carrefour Market anchor store, which is expected to act as a magnet for visitors travelling from the surrounding areas, wasl vita includes significant retail facilities that are expected to draw shoppers, stated Mohammed.

The retail aspect of the development has been incorporated to serve wasl vita residents as well as provide a host of amenities for the wider community, she added.

According to her, the residents and visitors to the area in Jumeirah will be able to take their shopping convenience to a new level with the opening of a Carrefour Market at wasl vita and over 50 premium stores and 19 food and beverage outlets that will cater to their needs.

The retail spaces will offer a wide selection, including well-loved names such as Tony Roma’s, Soho Grill, The Coffee Club, Pie Face, ELC, The Organic Pharmacy and The Loft Fifth Avenue. In addition to providing maximum convenience for wasl vita tenants, the stores will add unique retail offerings to the Al Wasl area and its surroundings.

The wasl vita’s residential component comprises 25 one-bedroom, 33 two-bedroom and six three-bedroom apartments, with its total retail area covering 76,475 sq ft.

Each living space is characterised by porcelain tiles and accent mosaic walls creating a contemporary living environment. The development features a landscaped exterior, health club with swimming pool and 24-hour security.

Such has been the demand for property at wasl vita that nearly 2,000 prospective tenants (to date) have registered to be first in line since public viewing and leasing of the development commenced, stated Mohammed.

“We are delighted that the wasl vita project is meeting such demand and we anticipate all residential units to be leased out in as short a timeframe as the retail units. The strong demand is partly because - with exception to wasl’s other development in the locality, wasl square - apartment living is a relatively new concept for the area,” she added.-TradeArabia News Service