Wasl Properties, a subsidiary of Wasl Asset Management Group under Dubai Real Estate Corporation (DREC), was established in 2008 and is considered semi-governmental. It oversees a portfolio exceeding 35,000–55,000 residential and commercial units across Dubai, including developments in Deira, Al Karama, Jebel Ali, Barsha, Muhaisnah, Bur Dubai, and Jumeirah. Iconic projects include Wasl Tower, Wasl1 in Al Karama, Tiara United Towers in Business Bay, Wasl District in Deira, and Gardenia Townhomes. The company is active in both affordable rent and premium freehold segments.

Under DREC, Wasl’s revenues grew by 28% in the first 10 months of 2024, supported by a portfolio of over 55,000 units, 35 hotels, golf courses, and more than 5,500 industrial plots. Its diversified holdings, mixed-income strategy, and government backing reduce financial risk. Major projects like Gardenia Townhomes and Wasl Gate boosting the portfolio further signal long-term stability.

Wasl offers a diverse mix of residential and mixed-use projects. Wasl District in Deira integrates traditional architecture with modern facilities like gyms, pools, office spaces, and retail outlets. The Oasis series in Muhaisnah targets mid-income renters, while Business Bay’s Tiara United Towers and Wasl Tower provide premium specs, pools, gyms, green areas, and smart features. The Nook 1 project in Jebel Ali sold 80% of its units within a day, demonstrating strong market demand.

As part of DREC and a semi-government entity, Wasl adheres strictly to RERA and DLD requirements, including escrow and licensing. No legal penalties or regulatory breaches have been reported. Projects such as Wasl District and Wasl Oasis are escrowed and compliant, reflecting strong regulatory practices.

Tenant and buyer experiences vary. Many appreciate affordable rents, central locations, and strong occupancy rates—over 98% in developments like Discovery Gardens and Ibn Battuta Gate. However, multiple Reddit threads highlight customer service issues: unexplained fines, inflated move-out charges, poor maintenance response times, app glitches for renting, and inconsistent property management. Complaints such as wrongful late-payment penalties and billing glitches have been echoed by residents.

Wasl is seen as a major state-backed provider of both affordable and premium housing solutions in Dubai. Projects in affordable segments like Wasl Oasis have high occupancy rates and meet community needs, while projects like Wasl Tower and Tiara United Towers offer premium living. Its broad reach and integrated services establish it as a credible, long-term player, but mixed tenant experiences affect its service reputation.

The company includes green and smart features in its developments, such as landscaped community spaces, district cooling, and integrated amenities. While there is no public evidence of LEED or other formal certifications, projects like Gardenia Townhomes and Wasl Gate indicate a commitment to sustainable urban design.