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Abu Dhabi, UAETuesday 23 October 2018

Miral invites private sector developers to invest in projects on Yas Island 

The Abu Dhabi developer is offering plots in Yas Bay Residences 

Cyclists at Yas Circuit. Abu Dhabi's Miral is putting up land plots for sale on Yas Island, as it continues to transform the island into a destination for business and tourism. Getty
Cyclists at Yas Circuit. Abu Dhabi's Miral is putting up land plots for sale on Yas Island, as it continues to transform the island into a destination for business and tourism. Getty

Abu Dhabi developer Miral is putting up ready-for-development land plots for sale on Yas Island, as it continues to transform the island into a destination for business and tourism.

The land plots, which include 35 residential building lots, two retail plots and two dedicated for building schools, are part of Yas Bay development, a 14 million square foot, mixed-used project by Miral on the southern end of the island, Miral said in a statement on Saturday.

Yas Bay, which will be home to the relocated media hub twofour54, also features Yas Bay Residences, where the plots are located. Once fully developed, the residential district will also have 20 recreational parks, three mosques and schools, and aims to welcome 15,000 residents and 10,000 professionals to the island, Miral said.

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“As creators of Yas Island, 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,” Mohamed Al Zaabi, the chief executive of Miral, said. “The available land plots are part of an attractive concept for a mixed-use neighbourhood which is integrated with Yas Island’s existing world-class infrastructure.”

Miral, which is responsible for several developments on Yas Island such as Warner Bros World, aims to attract 48 million visits to the destination by 2022. It is investing Dh4 billion in the Dh12bn 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 it says will complement the Yas Island’s existing attractions.

Adjacent to Yas Bay Residences will be Yas Bay Waterfront, representing the island’s new entertainment and leisure district which includes Yas Arena of 18,000 capacity, a cinema, family entertainment centre, beach club and two hotels including a Hilton family resort, the company said.