|12 March, 2019

UAE-based Wasl properties to launch sales of Dubai residential tower

Wasl1 features 13 multi-purpose towers, with 1,000 parking lots and 25,000 sq ft of rentable retail spaces

wasl properties commences leasing of wasl Crystal in Al Quoz area

wasl properties commences leasing of wasl Crystal in Al Quoz area

Wasl Properties/Handout via Thomson Reuters Zawya

UAE-based wasl properties, a subsidiary of wasl Asset Management Group, is set to launch the sales of its fourth tower B at ‘Park Gate Residences’ being developed as part of its wasl1 project in Dubai.

This comes in light of the high investor interest in the project, and the sales success of the former three tower units in record time, said a statement from the company.

A major development, wasl1 features 13 multi-purpose towers, with 1,000 parking lots and 25,000 sq ft of rentable retail spaces.


It spreads across a vast area of 1.3 million sq ft and provides nearly 3,000 residential units in five phases.

The fourth tower B comprises the last of the first phase of wasl1 and overlooks Zabeel Park as well as accommodates 160 apartments across 16 floors, ranging from one- to five-bedroom apartments of varying sizes, it stated.

The master project will house a state-of-the-art hotel, and one of its standout features is its proximity to Zabeel Park, Sheikh Zayed Road, and Al Jafiliya Metro Station, said the Emirati developer.

In addition to the available residential units that fall under the free-hold system, retail spaces, and hospitality amenities, the project also hosts entertainment facilities, food corners, and cafes for the convenience of the residential community, it stated.

The sales will kick off on March 16 from 9am – 6pm at the wasl1 sales centre on the project site in Zabeel.

On the occasion of the ‘Year of Tolerance,’ the company is offering a special offer to interested buyers that guarantees them two per cent off on the total value of a unit, two per cent as a down payment, and a 50 per cent discount on Dubai Land Department registration fees.

Zainab Mohammed, chief property management and marketing officer, said: "The wasl1 tower sales at this time is our way of rewarding our loyal customers for their interest in the project through a special offer to celebrate the ‘Year of Tolerance'. The project will add on to our previous successes that have prominently highlighted our consistent capabilities of meeting investor expectations. This, in turn, reveals the sustainable demand and the response of investors to the outstanding projects in Dubai’s realty market," noted Mohammed.

"We at wasl pursue unique strategies when launching any project, each of which we assure is an attractive investment opportunity to avail, especially as we have provided to investors, as an additional service, the option of renting out and managing their properties on their behalf," she added.

The Park Gate Residences’ handover to investors is expected to take place in the third quarter of 2020, delivering a total of 746 apartments to the Dubai real estate market.

-TradeArabia News Service

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