Wasl Properties has completed phase one of the $326.7m mixed-use Dubai heritage project in the Wasl district.
Located in the heart of Deira, the project will feature a 55,000ft² centre-piece and a 211 unit Souq, residential and office buildings, a hotel and furnished apartments.
Wasl Properties project management general manager Nabil Al Khaja said that the company has started the delivery of commercial units to investors in the Wasl district Souq.
"This development is one of the most important to take place in Dubai as it revives the heritage of the UAE by rehabilitating the Al Maktoum Hospital area of Deira," Khaja said.
"The project will form a stunning showcase for the city leading up to Expo 2020, as it provides an opportunity for the anticipated millions of visitors as well as residents to discover the traditional identity of the city."
"The area of the Souq surrounding the Al Maktoum Hospital Museum will showcase retail products exclusively associated with the unique culture and heritage of Dubai with the aim of creating a traditional Emirati atmosphere for citizens and tourists."
Phase two of the Dubai heritage project includes 356 residential units, comprising 115 furnished luxury apartments in addition to 53 offices and a 196-room hotel.
The second phase is anticipated to be completed in 2015 and will showcase traditional Emirati architecture and feature narrow, winding sikkas or alleyways, several restaurants and amenities including a swimming pool, sports club and security services.