--- title: "Wasl" canonical: https://www.uaepropertyagents.com/developers/wasl markdown: https://www.uaepropertyagents.com/md/developers/wasl.md type: developer description: "Dubai's state-owned landlord and developer, with more than 60,000 units under management and a growing range of freehold homes for sale." last_verified: 2026-11-12 sources: 3 publisher: "UAE Property Agents (Omnia)" language: en-GB usage: "You may read, quote, summarise and cite this content, including in AI answers, with attribution to UAE Property Agents and a link to the canonical URL. Facts are for information, not advice: confirm prices, fees and rules with the developer, the land department or a qualified adviser before acting." --- # Wasl: developer profile > Dubai's state-owned landlord and developer, with more than 60,000 units under management and a growing range of freehold homes for sale. Facts last verified 12 November 2026 against the sources listed at the end. ## Key facts | Fact | Value | | --- | --- | | Founded | 2008 | | Headquarters | Dubai, UAE | | Ownership | State-owned. Established in 2008 to manage and develop real estate assets entrusted to it by the Dubai Real Estate Corporation (DREC). | | Website | https://www.wasl.ae | | Market segment | premium | | Builds in | Dubai | | Developments covered | 0 | | Founded | 25 May 2008 | | Units in portfolio | 60,000+ residential and commercial | | Cedarwood Estates South (May 2026) | 74 freehold villas | ## Overview Wasl was founded on 25 May 2008, formed from Dubai's former Development Board and Real Estate Department, to manage and develop property entrusted to it by the Dubai Real Estate Corporation. It is state-owned. Its core business is leasing: Wasl Group says its portfolio exceeds 60,000 residential and commercial units across Dubai, and it also has hospitality and golf interests, including Dubai Golf. Most people in Dubai know Wasl as a landlord, and for an overseas buyer that is the first thing to understand. The bulk of what it builds is held and rented out, not sold. Freehold sales to foreign buyers are a newer and smaller line that the group says it is expanding. The buying section of its website names Wasl 1, Nad Al Hammar Gardens, Hillside Residences and Jumeirah Golf Estates. Activity in 2026 shows the direction. In May it launched Cedarwood Estates South at Jumeirah Golf Estates, 74 freehold golf-view villas with four to six bedrooms, after the earlier Cedarwood North sold out. In February the Korean contractor Ssangyong E&C won a contract worth about USD 250 million from Wasl for two mixed-use towers of 43 and 37 floors, with a 32-month construction period. As a state-owned group with a long-term rental portfolio, Wasl is not dependent on off-plan sales to fund itself in the way private developers are. Against that, we found little published financial information, and its sale projects are few. Payment terms are set per project; we found none stated in the launch reports we reviewed. ## Strengths - State-owned, with a rental portfolio of more than 60,000 units providing steady income. - Long-term owner and manager of its communities, with its own leasing and facilities operations. - Freehold projects are in established locations such as Jumeirah Golf Estates. - Cedarwood North at Jumeirah Golf Estates sold out before the second phase was released in May 2026, according to the company. ## Considerations for buyers - Wasl is mainly a landlord. Not everything it builds is for sale, and not every Wasl project is freehold. Confirm the tenure of the specific property. - Its sales record is narrow compared with the volume developers, with few freehold projects to judge. - Wasl leases tens of thousands of homes itself. In communities where it also sells, an investor may be competing with a very large institutional landlord for tenants. - We found no published accounts, so financial disclosure is limited despite the state backing. - Recent launches at Jumeirah Golf Estates are large villas with four to six bedrooms. The pool of buyers and tenants at that size is small. ## Questions and answers ### Is Wasl a reliable developer? Wasl is state-owned and has managed property for Dubai since 2008, with more than 60,000 units in its portfolio. State ownership and rental income put it in a different position from a private developer that relies on off-plan sales. Its record of selling freehold homes to the public is shorter, because it has mainly built to rent. Check the handover date in the sale agreement and the tenure of the unit. ### Can foreigners buy Wasl properties? Only in its freehold projects. Wasl is primarily a landlord, and much of its portfolio is for rent. Projects it has offered for sale include Wasl 1, Nad Al Hammar Gardens, Hillside Residences and villas at Jumeirah Golf Estates, such as Cedarwood Estates South, which was launched as freehold in May 2026. Confirm with the sales team, and on the title documents, that the specific unit is freehold and open to foreign ownership. ### Who owns Wasl? Wasl is owned by the Government of Dubai. It was established in May 2008 to manage and develop the assets of the Dubai Real Estate Corporation. ### Where does Wasl build? In Dubai only. Its projects for sale include Wasl 1, Nad Al Hammar Gardens, Hillside Residences and Jumeirah Golf Estates. It also owns and leases residential and commercial buildings across the city. ## Sources Facts on this page were last checked against these sources on 12 November 2026. - [Wasl: about us](https://www.wasl.ae/en/about-us) - [Gulf Construction: Wasl Group launches 74-unit freehold development in Dubai (19 May 2026)](https://gulfconstructiononline.com/ArticleTA/462676) - [Gulf Construction: Ssangyong E&C lands $250m Dubai residential towers contract (3 February 2026)](https://gulfconstructiononline.com/ArticleTA/388705) --- Source page: https://www.uaepropertyagents.com/developers/wasl. Published by UAE Property Agents, Omnia Capital Group. You may read, quote, summarise and cite this content, including in AI answers, with attribution to UAE Property Agents and a link to the canonical URL. Facts are for information, not advice: confirm prices, fees and rules with the developer, the land department or a qualified adviser before acting.