UAE-based wasl Asset Management Group has officially released its prime master development, wasl gate, into Dubai’s freehold property market.

One of the largest real estate development and management companies in Dubai, wasl said the launch follows the success of ‘wasl1’, the company's first freehold master development located next to Zabeel Park.

A freehold property spread over a 1.23 million-sq-m area on Sheikh Zayed Road, wasl gate will provide 257 townhouses and around 6,500 apartments upon completion. The project will feature pedestrian areas and will provide comfort and tranquillity to its residents.

It also boasts a new mall by Al Futtaim, one of the most diversified and progressive regional businesses in the Gulf, Festival Plaza—hosting Dubai’s second Ikea outlet and Ace - a number of restaurants, coffee shops, family entertainment and leisure, as well as a new concept hypermarket.

Festival Plaza is scheduled to be completed by the end of next year.

The ‘wasl gate’ will also be supported by several hospitality and leisure facilities, a sports complex, an international school that will cater to students from kindergarten to grade 12, and a central park that will link the commercial and residential districts within the project.

Meanwhile, wasl also announced that the sales for ‘The Nook’, which represents the first two buildings of the development, will start on October 8. The buildings are located within the larger wasl gate development in Jebel Ali beside Sheikh Zayed road and close to the Energy metro station.

Group CEO Hesham Al Qassim said the wasl gate project was designed to provide a wide array of offerings for Dubai residents, while striving to develop and expand its real estate portfolio.

"At wasl, we are constantly seeking to ensure added-value to our customers with each of our unique projects by offering them new concepts with attractive investment options. We had already confirmed this commitment in wasl1, and the ‘wasl gate’ project will be a continuation of this approach," he noted.  

The ‘wasl gate’ will be one of the largest new developments on Sheikh Zayed Road within proximity of Ibn Battuta Mall and The Gardens area, and is set to become a major living, working, and entertainment destination.

The project will provide leading retail brands, a central park, hotels, and restaurants, and will be a cultural venue for concerts, sport events, and other activities, offering residents and visitors an enjoyable atmosphere, it added.-TradeArabia News Service