01 June 2019

Miral, Abu Dhabi’s creator of destinations, says it has signed land sales agreement with Siadah International Real Estate Development for the development of two residential buildings at Yas Bay.

 Yas Bay, a vibrant new waterfront community within Yas Island, also includes other available residential and commercial plots for potential investors and partners.

 The latest addition to Miral’s portfolio, Yas Bay is progressing to schedule. The project recently witnessed the completion of concrete works at its first hotel, due to be operated by Hilton.

 In addition, the first phase of road infrastructure and landscaping of the public realm, parks and promenade have also been completed.

 Yas Bay Arena, the first-of-its-kind multi-purpose indoor arena in Abu Dhabi, also marked a major construction milestone in March of this year with the installation of the largest roof truss for the 18,000-seat arena.

 Miral CEO Mohamed Abdalla Al Zaabi says: “We are happy to announce that we finalised the sale of the first two plots for residential development at Yas Bay with Siadah International Real Estate Development.

 “With the recent changes in the law issued by the Abu Dhabi government, allowing foreigners to acquire freehold lands and develop properties in designated zones, Yas Island’s Yas Bay is now firmly on the global map as a real estate investment destination.”

 UAE-based Siadah International Real Estate Development CEO Chawqui Derradji says: “We are delighted to invest in Yas Bay and to bring our projects to such an exciting destination.”

 “As the two plots become bustling communities, we aim to mirror Miral’s vision of offering unique and immersive experiences by developing residential units with direct views of Yas Bay waterfront,” he added.  

• $6.8bn Riviera-style coastal hub
• Al Qana destination set for 2020 opening
• Azizi unveils GenNext homes in Dubai
• Dubai Creek waterfront residences launched
• Omniyat sets record with penthouse deal
• Investors ‘eyeing Expo 2020 off-plan projects’
• Al Futtaim announces Cairo mall expansion
• Miral inks Yas Bay residential plot sales deal
• Tebyan sells 70pc of Dubai luxury twin tower
• Marina Gate tower on track for 2020 finish
• New in brief

Tags

Kuwait Lighting Forklifts & Telehandlers Focus – Polish Expertise Corrosion Smart Buildings Just Out Regional News Saudi Focus UAE Focus Events Legally Bound Real Estate Contractors Interiors Manufacturers & Procurement Tenders

Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.