Investment opportunities at Miral's Yas Bay project
An artist's rendition of Yas Bay in Abu Dhabi. As part of its development strategy, Miral is investing Dh4 billion in the Dh12 billion master plan to develop a waterfront entertainment and leisure district.
Abu Dhabi - 14M sqft, mixed-used project set to transform southern end of Yas Island
Miral announced the launch of ready-for-development land plots for sale at Yas Island in Abu Dhabi.
The plots - 35 residential buildings plots, two retail plots and two school plots - are an integral part of Yas Bay, a 14 million sqft, mixed-used project by Miral, which is set to transform the southern end of Yas Island. Yas Bay also includes Yas Bay Waterfront leisure and entertainment district. and a media zone, the new home to twofour54.
Miral is committed to developing Yas Island into a top global destination for entertainment, leisure and business with a vision to attract 48 million visits by 2022. As part of its development strategy, Miral is investing Dh4 billion in the Dh12 billion master plan to develop the waterfront entertainment and leisure district. The company is now opening opportunities to invest in business and residential assets at Yas Bay which will complement the destination's existing attractions.
"We are offering third-party developers an opportunity to invest in this prime area of Abu Dhabi, which benefits from being a globally-recognised, world-class destination drawing millions of visits from all over the world," said Eng Mohamed Abdalla Al Zaabi, CEO of Miral.
The land plots on sales are part of the Yas Bay Residences, the water-front destination on Yas Bay. Once fully developed, the residential district will also feature 20 recreational parks, three mosques and two schools. The district will welcome over 15,000 residents and 10,000 professionals to the Island.
Adjacent to Yas Bay Residences will be Yas Bay Waterfront representing the island's new entertainment and leisure district. It will feature a state-of-the-art Yas Arena with a capacity of 18,000, boutique cinema, family entertainment centre, beach club and two hotels including Hilton family resort. Yas Bay will also be home to the new twofour54, a media and entertainment hub.
More than 65 per cent of Yas Bay's infrastructure - including site-wide utility networks such as sewerage, water and power systems as well as highways, roads, tunnels and ramps - are complete. Therefore, the developers will only be required to build the 'in plot' facilities.
Yas Bay will complement Yas Island's diverse portfolio of theme parks, world-class leisure and entertainment attractions which together support Abu Dhabi's vision to grow tourism and diversify the economy.