The Dubai Real Estate Corporation Lands (DREC Lands) is the property-owning arm of the Government of Dubai, established by Law No. (14) of 2007 to consolidate, protect and commercialize the emirate's government-registered real estate. It holds a land bank of more than 5,600 plots spanning roughly 400 million square feet across industrial and commercial zones such as Al Quoz, Ras Al Khor and Jebel Ali, alongside residential, retail and hospitality assets. Since 2008 the portfolio has been managed by its wholly owned subsidiary, wasl Asset Management Group, which oversees over 50,000 units, 35 hotels and hotel apartments, and Dubai's leading golf clubs.