A brand-new arena, a pier, two luxury hotels and more than 50 restaurants are to be developed as part of a Dhs12 billion mega project aimed at transforming Yas Island into a global destination.
The bold master plan for the southern end of the island – boasting a vibrant waterfront and entertainment district, an all-new media zone and a sprawling residential area, which will be home to 15,000 people – is being spearheaded by developers Miral.
His Highness Mohammed bin Zayed Al-Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, witnessed the launch of the massive development at a big event held in the capital.
Yas Bay, due to be completed by 2019, will feature two hotels, a Hilton lifestyle hotel and family resort, a pier, more than 20 shops, a beach club and the 18,000-capacity Yas Arena, to be operated by Flash Entertainment. The waterfront promenade will be lined with a variety of shops, cafés and restaurants.
Miral has already invested Dhs4 billion into the first phase of the 320-acre development, which will also include a state-of-the-art, 3.2 million-square-foot campus, and will become the home of the capital’s media hub, twofour54.
Mohamed Khalifa Al Mubarak, Chairman of Miral, said “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. Miral opens a new chapter in Yas Island’s growth as a unique destination for entertainment and tourism, residential island living, and business”.