His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and Chairman of the Board of Directors of Dubai Real Estate Corporation, affirmed that “the real estate sector represents one of the basic tributaries of Dubai’s economy, and the growth of this vital sector is an indicator of the progress the emirate is witnessing.” Rapid progress in achieving the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, for the future of comprehensive and sustainable development in the emirate, and achieving the goals. “The ambition included in the Dubai Economic Agenda D33 is to be among the top three economic cities in the world.”
This came while His Highness chaired the meeting of the Board of Directors of the Dubai Real Estate Corporation, during which the 2025 budget was approved, and the financial statements of the corporation and the Wasl Group were reviewed, during the period from January 2024 to the end of October 2024, which witnessed the group achieving an increase in revenues by 28%. , compared to the same period in 2023.
His Highness praised the distinguished performance of the Dubai Real Estate Corporation, the “Wasl” Group, and the real estate sector in general, and what it reflects of the strength of Dubai’s economic foundations, its ability to adapt to global changes, and attract quality investments that contribute to strengthening its position as a global center for business and investment, noting that His Highness praised the positive economic impact of real estate investment, which is not limited to enhancing the emirate’s domestic product, but also supports the growth of other vital sectors, led by infrastructure, tourism, hospitality, and others, in order to achieve the goal of… Making Dubai a model for integrated global cities as the best city to live, work and invest.
His Highness said: “Dubai’s attractive force for business, investments and talent from around the world enhances the demand for real estate projects and opens more opportunities for local and international investors. We have worked to enact and develop flexible legislation and regulatory frameworks that keep pace with market requirements to ensure the best stimulating conditions for investors. The development process in Dubai is based on a true and successful partnership with the private sector that takes into account its interests and safeguards its investments in a safe and stable environment. We continue to provide more guarantees and encouraging incentives to investors in all sectors. Dubai remains his favorite destination in the world.”
His Highness said in a blog post on the “X” website yesterday: “I chaired the meeting of the Board of Directors of the Dubai Real Estate Corporation, and approved its budget for the year 2025. We also reviewed the financial statements of the corporation and the (Wasl) group during the first 10 months of the current year, which witnessed an increase in revenues by 28 percent. % compared to the same period in 2023.
His Highness added: “The real estate sector represents one of the basic tributaries of Dubai’s economy, and is witnessing exceptional growth during this period, and by enacting and developing flexible legislation and regulatory frameworks that keep pace with market requirements, and providing more guarantees and encouraging incentives to investors in all sectors, we will witness a positive economic impact of real estate investment in enhancing… The emirate’s domestic product and the growth of the infrastructure, tourism and hospitality sectors.”
His Highness continued: “With the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai will be a model for integrated global cities as the best city to live, work and invest.”
The Board of Directors of the Dubai Real Estate Corporation, in the presence of the Board members, discussed a number of topics on the agenda, including the digital transformation strategy of the Wasl Group, and the latest developments and plans related to its future projects.
During the meeting, the Board of Directors stressed the keenness of Wasl Group, through its pioneering and innovative real estate projects, to keep pace with the objectives of the Dubai Economic Agenda (D33), and the importance of continuing to work to achieve the highest rates of excellence in the real estate, hospitality and entertainment sector, and to contribute to achieving Dubai’s ambitious vision, and enhancing Its position as a leading global destination to live, work and invest.
Wasl Group owns a huge real estate portfolio, which includes more than 55,000 residential and commercial units, in addition to a diverse group of more than 35 hotels, and a number of leading entertainment facilities, including golf courses, and a wide range of industrial areas consisting of more than 5,500. piece of land.
Maktoum bin Mohammed:
• The real estate sector represents one of the main tributaries of Dubai’s economy.
• Dubai’s strong attraction to business and talent from around the world enhances the demand for real estate projects.
• %28 increases in Wasl Group’s revenues during the first 10 months of 2024, compared to the same period last year.
• 55 thousand residential and commercial units and 35 hotels and entertainment facilities, within the real estate portfolio of the Wasl Group.
Follow our latest local and sports news and the latest political and economic developments via Google news