Dubai Land Department, wasl sign MoU

Dubai Land Department has signed a memorandum of understanding (MoU) with wasl properties, to strengthen the strategic partnership between the two entities. The agreement was signed by Sultan Butti Bin Mejren, Director General of Dubai Land Department and Hesham Abdullah Al Qassim, CEO of wasl Asset Management Group. Both entities signed agreement to boost co-operation in an effective manner based on a corporate system that aims to continuously enhance the services provided to the community, while having a positive reflection on the progress and economic development of Dubai. wasl properties is the first real estate company to take this step forward, launching a new system where the registration of wasl properties tenant contracts in the Ejari programme is done in real time. Both parties have agreed to a framework for the electronic joint venture that will see proper implementation and speed of procedures for recording new leases Sultan Butti Bin Mejren commented: “This agreement is part of an endeavour to strengthen the relationship between the two partners, along with a move to work together efficiently to enhance and develop all real estate related activities.” He added: “We are delighted to sign this agreement with wasl that will pave the way for more cooperation and the open exchange between both parties, in order to contribute to the growth and development of the country. wasl has been a driving force in the real estate market, and we appreciate and applaud their efforts and many achievements.” Hesham Abdullah Al Qassim, commented: “In an effort for wasl to be part of the growth and development of the real estate sector in the emirate of Dubai, we have successfully implemented the electronic venture between the two systems that allows wasl customers to register their Ejari contracts in any of the wasl branches. This is both time and cost efficient for the community we serve - adding to customer satisfaction, because customers are a top priority.” Hesham Abdullah Al Qassim, added: “This is a step that breeds and enhances cooperation between the public sector, the real estate companies and residents, presenting us with a unique opportunity to satisfy our customers.” The partnership embodies the vision of the government in strengthening and consolidating Dubai’s position as a centre of knowledge in the region through the achievement of developments that make living in the emirate both convenient and worthwhile. wasl, an asset management group, was established by the Dubai Real Estate Corporation (DREC) in 2008 to manage its various operations and its investments in the real estate and business sectors.The group currently encompasses three subsidiaries including wasl properties, wasl hospitality and Dubai Golf. Set up to strengthen Dubai’s success and to actively secure its future growth objectives wasl Asset Management pursues a vision ‘to value and be valued by our stakeholders’. The group aim is to achieve this objective by creating a legacy of trust and respect, acting as a responsible corporate entity, and as a platform for innovation in asset management. The word ‘wasl’, which means ‘connection’ in Arabic, is symbolic of the strong relationship the group shares with its stakeholders. wasl was the original name for historic Dubai and represents its profound link to the past, its present rapid evolution as a strategically located global hub and vision for the future. wasl Properties manages wasl’s extensive residential and commercial asset portfolio of over 25,000 residential and commercial properties within the Emirate of Dubai. wasl properties provides a full range of property management, facilities management and call centre operations providing CRM services to tenants. wasl hospitality’s portfolio currently comprises seven hotels with over 2,200 rooms. These hotels currently managed by Starwood and the Hyatt include prime centre city hotels and residential apartments such as the Hyatt Regency, the Grand Hyatt, Le Meridien Dubai and The Fairway and the resort and spa properties such as The Park Hyatt Dubai, Le Meridien Mina Siyahi Beach Resort and Marina and The Westin Mina Seyahi Beach Resort and Marina. From Gulf Today