Miral has announced major progress in the development of Yas Bay, a new mixed-use waterfront destination on Yas Island, Abu Dhabi. Miral has invested AED 4 billion in the project.
Yas Bay’s public realm and infrastructure is set to complete in December 2019, while Yas Bay Arena is 75 percent complete.
Miral has invested AED 4 billion ($1 billion) in the AED 12 billion ($3.2 billion) Yas Bay project, which is comprised of the Waterfront, Residences at Yas Bay, and twofour54.
“Our latest construction update highlights the significant progress we have achieved on our pioneering Yas Bay project,” said Mohamed Abdalla Al Zaabi, CEO of Miral.
Miral has completed 75% of Yas Bay Arena
“With key construction milestones being achieved, we look forward to working with investors and partners from across the world to further develop this unique destination that sets a new benchmark for Yas Island and the UAE.”
Miral is developing the public realm, infrastructure, Hilton Hotel and Yas Bay Arena at the 14-million-square-foot development.
The Waterfront will feature Yas Bay Arena, two hotels, a beach club, a pier, 37 cafés and restaurants, and 19 retail outlets.
Yas Bay Arena will be a multi-purpose indoor venue with flexible capacity for 500 to 18,000 people. It will host large-scale and private events, including sports competitions and performances.
The Waterfront, Residences at Yas Bay, and twofour54
Brint Jackson, General Manager of Yas Bay Arena, said the work with Miral “has culminated in the creation of one of the region’s most exciting and versatile venues”.
“The 18,000 capacity arena will be a new landmark for entertainment, occupying an easily accessible, iconic space on the Yas Island skyline that will set new heights of excellence for live events; we look forward to the opening of this incredible new facility.”
The Hilton Hotel at Yas Bay is 60 percent through construction and scheduled to complete in 2020. It will have 546 rooms and a wide range of F&B.
“Miral has a proven track record of delivering quality products on Yas Island and we look forward to hosting our business and leisure travellers at the upcoming Hilton on Yas Island,” said Rudi Jagersbacher, President Middle East, Africa and Turkey at Hilton.