wasl properties has announced the launch of a new service dedicated to provide full management services for owners and private landlords in Dubai and the UAE. The new service covers a full spectrum of building and facilities management and is designed to play a vital role and fill a current service gap in the marketplace.
Dubai Real Estate Regulatory Authority (RERA) recently issued the enabling regulations of the article 2, Law No. 27 of 2007 concerning the Ownership of Jointly Owned Properties in the Emirate of Dubai. The regulations set out detailed requirements in relation to the management, operation and maintenance of all jointly owned property in single and mixed-use developments. According to the new law, all real estate developers must set up owners associations within a specific timeframe. These associations can be formed by non-real estate developers.
wasl properties, a subsidiary of wasl Asset Management Group, has completed all requirements set forth by RERA for licensing and is now authorized to provide management services to the proposed owners associations.
Mohammed Khoory, GM of wasl Facilities Management underscored the importance of this service, which sets the necessary guidelines for managing the common areas of jointly owned properties in the Emirate of Dubai, commenting: “This is a new milestone for us, our clients and the marketplace.
Our service is based on a leading international model, tailored for our marketplace requirements. We are dedicated to the proposition that it will set a new standards for the market to follow”.
He continued: “We at wasl seek to work with owners associations and private landlords in a way that will enable these associations to be cost effective and efficiently fulfill various roles and key functions. We will be the interface dedicated to improving the services rendered to property owners. Through our long, successful track record and extensive experience in the property market, wasl is well positioned to understand the importance of the needs of the owners associations and private property owners.
We have taken all the necessary steps and measures to ensure that the provision of this service reflects our traditional values of commitment, efficient service delivery, responsive attention to problem solving, credibility and transparency.”
Mr. Khoory reiterated wasl’s constant commitment to delivering excellent levels of service to owners associations, by using strategies and policies that have proven to be cost effective and efficient by the group over a long period of time. He added that this new property solutions role provides an opportunity for wasl, one of the country’s oldest leading property management service providers, to utilize their exceptional local expertise, professional skills, and unrivaled knowledge of the real estate market.
He continued: “As we are keen to maintain the excellent standards of the Group, we have developed management policies for the new service that feature quality, efficiency and speed, as well as the best rates. The organizational framework we have adopted will enable the company to easily implement the regulations of jointly owned properties”.
The constructive strategies adopted by wasl properties covers a wide range of services for owners and tenants of commercial and residential properties and, by focusing on achieving the best returns for owners, has established a strong presence in Dubai. The company currently has over 25,000 residential and commercial units under its umbrella for both wasl’s tenants and 3rd party clients.
Mr. Khoory further commented: “We consider the attention paid to quality maintenance operations to be as important as the attention paid to return on investment. We focus on implementing sustainability standards in our projects, during all phases of planning, management and maintenance, in addition to enhancing building efficiency in terms of energy, water, the internal environment, avoiding pollution of waterways and reliance on local building materials. We are keen to adopt green building standards due to the huge benefits of these practices on the economic, social, environmental levels and property consultancy.”
He concluded: “wasl’s license from Dubai Real Estate Regulatory Agency is a new recognition of the superior property management services delivered by the company to owners. The comprehensive services already provided by the company to freehold and leased units prove that we will be able to deliver the same high quality comprehensive services to residential communities”.