Miral Asset Management, the government-owned developer behind Yas Island's main leisure attractions, said 80 per cent of food and beverage units at its new beachfront leisure project in Abu Dhabi has been leased, ahead of its completion in March.
The A’l Bahar beachfront development on Abu Dhabi Corniche, Miral’s first development outside Yas Island, is on track to open as planned by the end of the first quarter of 2018, the developer said.
"We are on track to launch the groundbreaking leisure, wellness and retail space by the end of March to the public, ahead of the Mother of the Nation Festival," said BR Kiran, chief portfolio officer at Miral, in a statement on Wednesday.
“Leasing of available retail spaces is also on track with a variety of leasing opportunities still available for both established brands and local start-ups which we feel is a unique and exciting advantage to this project.”
Unveiled in December, A’l Bahar is a beachfront community space occupying 80,000 square metres and stretching 600 metres down the beach.
___________
Read more:
[ Miral plans projects outside Yas Island in Abu Dhabi ]
[ New Dh12bn plan to bring arena and promenade to Yas Island ]
[ Hefty room rates in Abu Dhabi for last minute F1 stays ]
___________
When complete, it will include basketball and volleyball courts, an outdoor gym, children’s play area and 48 retail and F&B units made from shipping containers.
Also opening at the complex is Haddins, a health and wellness facility, and Bodytree yoga and pilates studio. There will also be an inflatable waterpark concept called Aquafun.
Construction of A'l Bahar began in October and is progressing "on schedule", said the developer. Infrastructure work is also under way with cladding and aluminum structural work in place.
Retailers will start fitting out their units from February, Miral added.
Miral was set up by the Abu Dhabi government in 2011 to manage the entertainment components of the 25 million square foot Yas Island, alongside state-backed real estate developer Aldar, which oversees the island’s residential and retail strategy.
In December, its chief executive Mohamed Al Zaabi, said the company planned to develop other projects outside of Yas Island once A’l Bahar is complete.
“Miral has been through a good learning curve, we’ve learned a lot through Yas Island, in terms of creating a destination for tourists and residents. I think we can capitalise on that for different projects in future,” he said.
