Gulf Construction Online - $3.3bn Yas Bay marks major progress

Real Estate

Yas Bay Arena ... 75 per cent complete.

$3.3bn Yas Bay marks major progress

01 November 2019

Abu Dhabi’s creator of destinations Miral has announced major progress in the development of the $3.3-billion Yas Bay, the emirate’s new and iconic waterfront destination on Yas Island.

With key milestones, including the completion of the public realm and infrastructure expected in December 2019, and the 75 per cent construction progress of Yas Bay Arena, significant momentum has been achieved across the ground-breaking mixed-use development.

Miral’s $1.1-billion investment into the project, includes developing the public realm, the infrastructure, the Hilton hotel and Yas Bay Arena. The 14-million-sq-ft development comprises three distinct areas: The Waterfront, Residences at Yas Bay, and twofour54, said the developer.

The main focal point of Yas Bay, The Waterfront will incorporate Yas Bay Arena, two world-class hotels and a beach club, as well as a boardwalk and pier that are set to have 37 cafés and restaurants, and 19 retail outlets.

As one of the most striking components of the waterfront development, Yas Bay Arena, will be a first-of-its-kind, multi-purpose indoor venue, providing flexible capacity from 500 people to around 18,000 people.

The Arena is set to become a major addition to Abu Dhabi’s entertainment and culture offering, hosting large-scale and private events such as sporting competitions and cultural performances.

On the key milestones, CEO Mohamed Abdalla Al Zaabi says: “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.”

Yas Bay will also be home to two new world-class hospitality offerings, including a major Hilton hotel set within The Waterfront area.

Having reached 60 per cent in construction progress and scheduled for completion in 2020, it is primed to become one of Yas Island’s key landmarks, comprising 546 rooms with a wide range of food and beverage outlets.

Yas Bay also incorporates Residences at Yas Bay, an urban island community with a capacity for 15,000 residents through 35 low-to-mid-rise residential plots, 19 recreational parks, three mosques and two schools.

In addition, the new 3.2-million-sq-ft home of twofour54, the globally-renowned creative hub for Abu Dhabi’s media and entertainment industry at Yas Bay, is set to attract 10,000 professionals, says Miral.