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Miral unveils $3.3bln master plan on Yas Island in Abu Dhabi
09 May 2017
Abu Dhabi-based developer Miral has unveiled a 12 billion UAE dirhams ($3.3 billion) master plan to develop the southern end of Yas Island in Abu Dhabi into a family entertainment, residential and business destination.
The company is investing 4 billion dirhams ($1.09 billion) in Phase 1 of the mixed-use development, according to a statement posted on its website.
The 14 million square feet development will spread across three districts - entertainment, residential and media.
Yas Bay entertainment and waterfront district will feature two hotels - a Hilton family resort and a lifestyle hotel - totaling 900 rooms, and the 18,000-capacity Yas Arena venue.
The Residences at Yas Bay would offer 35 plots to investors and developers and include 20 recreational parks, three mosques and two schools.
The media district, spanning 3.2 million square metres, will serve as the headquarters of twofour54, Abu Dhabi's media zone.
The mixed-use development is expected to attract more than 15,000 new residents and 10,000 working professionals to Yas Island, the statement added.
Miral's tourism portfolio on Yas Island includes Ferrari World Abu Dhabi, Yas Waterworld and the upcoming Warner Bros. Projects scheduled to open by 2022 are World Abu Dhabi, CLYMB, the world's widest flight chamber and tallest indoor climbing wall, and next-generation marine themed park SeaWorld Abu Dhabi.
© Zawya Projects News 2017