Gulf Construction Online - Miral unveils $3.3bn Yas South development plan

UAE Focus

Yas Bay ... vibrant waterfront destination.

Miral unveils $3.3bn Yas South development plan

01 June 2017

Miral, Abu Dhabi’s leading creator of destinations, has launched a Dh12-billion ($3.3 billion) master development plan to transform the southern end of Yas Island with a vibrant waterfront promenade with residential complexes and entertainment destinations.

Unveiling the project details, Miral officials said the massive development comprises three distinct areas: Yas Bay, a vibrant public waterfront and entertainment district; the Media Zone, featuring the new campus of twofour54; and the Residences at Yas Bay, an urban island community offering the complete Yas Island lifestyle.

“This is a significant milestone in Abu Dhabi’s journey to diversify its economy through world-class tourism and business infrastructure and a step towards our ambition to welcome 48 million visitors to Yas Island by 2022,” remarked Mohammed Khalifa Al Mubarak, the chairman of Miral.

As part of Yas Island’s vision as a global destination for family entertainment and leisure, Miral is investing Dh4 billion ($1.08 billion) into Phase One of the 14 million-sq-ft development. According to him, the development will attract more than 15,000 new residents and 10,000 working professionals to Yas Island.

Al Mubarak highlighted the key features of the South of Yas Island development. These include Yas Bay, the centrepiece of the development, which is anticipated to become one of the most iconic and vibrant waterfront destinations in the region. Designed to be the epicentre of cultural energy and entertainment, it will feature two hotels, a recreational pier, and Yas Arena, a first-of-its-kind 18,000-capacity venue on Yas Island operated by Flash Entertainment.

Al Mubarak said as a centrepiece of Miral’s ambition to further transform Yas Island into a top global destination, Yas Bay will offer more than 50 restaurants and 20 retails shops, which will welcome more than 14,000 guests daily. Leisure attractions include a beach club, boutique cinema and family entertainment centre.

It will also feature two hotels, including a Hilton family resort, and a lifestyle hotel, adding 900 rooms to leisure and business traveller market.

Delivering on the promise of Yas Island waterfront living, the Residences at Yas Bay will feature 35 plots for investors and developers to transform into a vibrant residential neighbourhood for urban professionals and families.

Ocean-view buildings will be set amid 20 recreational parks with volleyball, basketball and tennis courts, cycling and jogging tracks. Amenities will include three mosques and two schools.

A state-of-the-art, 3.2-million-sq-ft campus will become the new home of twofour54, Abu Dhabi’s successful media zone, named after the co-ordinates of Abu Dhabi (24 degrees North, 54 degrees East).