Sheikh Maktoum heads the board of directors of Dubai Real Estate Corporation…

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and Chairman of Dubai Real Estate Corporation, met with the corporation’s board of directors on Sunday to approve the 2025 budget.

During the meeting, the board reviewed the financial statements of the corporation and its subsidiary Wasl Group for the period from January to October 2024, which showed a 28 percent increase in revenue compared to the same period in 2023.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum said the strong performance of the real estate sector, which remains a key pillar of Dubai’s economy, reflects the emirate’s rapid progress in realizing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the Prime Minister. Minister and Ruler of Dubai for Sustainable Development.

The growth of this sector contributes significantly to the Dubai Economic Agenda D33’s goal of making the city one of the world’s top three urban economies, he added.

Sheikh Maktoum highlighted Dubai’s ability to adapt to global challenges and attract high-quality investment and talent, strengthening its growth as a global commercial hub.

He highlighted the positive economic impact of the real estate industry, which goes beyond GDP and covers key sectors such as infrastructure, tourism and hospitality. The sustained growth of the real estate sector supports Dubai’s vision to become a city of the future and a model for urban development, offering the world’s best living, working and investment conditions.

He emphasized the importance of a flexible and market-oriented regulatory framework to create an optimal environment for investors. He also highlighted Dubai’s successful partnership with the private sector, which protects and supports investment in a secure environment.

Sheikh Maktoum reiterated Dubai’s commitment to offering support measures and incentives that are critical to strengthening its status as a preferred destination for global investment.

The board meeting discussed several topics, including Wasl Group’s digital transformation strategy, as well as recent developments and plans for future projects. The Board of Directors highlighted Dubai Real Estate Corporation’s roadmap for achieving excellence in the real estate, hospitality and leisure sectors, in line with Dubai’s ambitious vision to strengthen its position as the world’s premier living and investment destination.

Wasl Group, through its innovative real estate projects, aims to support the goals of the Dubai Economic Program D33 to double the economy and make the city one of the three largest urban economies in the world. The Group’s diverse property portfolio includes over 55,000 residential and commercial properties, over 35 hotels, several premier leisure facilities such as golf courses and over 5,500 industrial land parcels.

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