Wasl Asset Management on Monday unveiled a new master development project called Wasl Gate.

Situated in Jebel Ali near the Energy metro station, the new freehold property project spreads over 1.23 million square metres. Upon completion, the development will house 257 townhouses and 6,500 apartments, the Dubai leading developer revealed in its statement.

Starting 8 October, Wasl will begin selling units at its project’s first two residential buildings, named The Nook.

“Wasl gate is designed to provide a wide array of offerings for Dubai residents, while striving to develop and expand our real estate portfolio,” said Wasl CEO Hesham Al Qassim said.

He asserted that the new freehold property project follows on the heels of the company similar successful project from last year, namely Wasl 1, which is located in Dubai’s Zabeel Park.

Given that the new city is likely to take on the feel of a full-fledged residential compound, an integrated sports complex, a central park, and an international school will be amongst the features of Wasl Gate, the developer announced but gave no further details as of the launch date for the project as a whole.

Wasl Gate will see the opening of a Majid Al Futtaim’s shopping mall featuring retail-giant Ikea along with other leisure facilities.

Such development activities come at a time when Dubai forges ahead to shape up to be the world’s best residential destination by 2021, the statement concluded.

-Mubasher