#2 wasl Asset Management
One of the top property developers in Dubai, wasl, is probably best known for being the company behind some of the most prestigious hotels in the emirate. That trend continued this year with the announcement of a number of major projects that should keep Dubai near the top of the list of leading hotel destinations in the world. Chief among those was arguably the news that wasl is bringing the first MGM hotel to the Middle East.
The famous Las Vegas-based hotel group will bring its iconic brands – including a Bellagio hotel to a new beach front mega resort to be built on an artificial peninsula off Jumeirah not far from the Burj Al Arab. Wasl also revealed this year plans to bring a second luxury Mandarin Oriental hotel to Dubai by the end of 2020. The hotel will be the main feature of a 300m tower being built on Sheikh Zayed by Dubai-based Arabtec, which was awarded an AED1.46bn ($397mn) construction contract earlier this year.
wasls first Mandarin Oriental hotel is being built on the waterfront at Jumeirah Beach and will open in the fourth quarter of 2018. And finally wasl also said this year that it would build the Hyatt Centric on Palm Jumeirah, a hotel with 217 rooms and 116 serviced apartments. Subsidiary wasl Properties manages an extensive real estate portfolio of over 35,000 residential and commercial properties in Dubai.
