For the first ten months of this year, the Dubai Real Estate Corporation (DREC) and its subsidiary, Wasl Group, recorded a 28% increase in revenues compared to the same period in 2023.
The Dubai Economic Agenda D33 seeks to double the city’s economy and place it among the top three urban economies in the world. Wasl Group hopes to help these objectives with its creative real estate projects. More than 55,000 residential and commercial units, more than 35 hotels, several prestigious recreational amenities, including golf courses, and more than 5,500 industrial land plots are all part of the Group’s varied real estate portfolio.
First Deputy Ruler of Dubai, Deputy Prime Minister, Finance Minister, and DREC Chairman Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum met with the company’s Board of Directors on Sunday to approve its 2025 budget.
The board examined the company’s financial accounts for January through October of 2024 during the meeting.
According to Sheikh Maktoum, the real estate industry’s impressive success, which continues to be a major pillar of Dubai’s economy, is indicative of the emirate’s quick progress toward sustainable growth. He continued by saying that the expansion of the sector greatly advances the objective of the Dubai Economic Agenda D33, which is to make the city one of the top three urban economies in the world.
Sheikh Maktoum emphasized Dubai’s capacity to adjust to global issues and draw in top-tier talent and investments, hence bolstering its development as a major international business hub.
He emphasized how the real estate sector boosts other industries like infrastructure, tourism, and hospitality in addition to GDP. The ongoing growing momentum of the real estate industry supports Dubaiās objective to become a city of the future and a model for urban development, delivering the worldās best environment to live, work, and invest.
He emphasized how crucial market-aligned and adaptable regulatory frameworks are to fostering the best possible environment for investors. He also emphasized Dubai’s productive collaboration with the private sector, which safeguards and encourages investments in a safe setting.
To solidify its position as a top international investment destination, Sheikh Maktoum reiterated Dubai’s dedication to providing encouraging policies and incentives.
The board meeting reviewed numerous topics including the Wasl Groupās digital transformation strategy and the current advancements and plans for its future initiatives. In line with Dubai’s aspirational goal of solidifying its position as the top lifestyle and investment destination in the world, the Board of Directors emphasized the Dubai Real Estate Corporation’s road map for attaining excellence in the real estate, hotel, and leisure sectors.
