|01 October, 2019

Yas Bay Arena at Abu Dhabi's $3.3bn waterfront destination is 75 percent complete

Yas Bay Arena, Hilton hotel and pier to be completed in 2020

Miral appoints Bam International as Yas Bay Arena main contractor on Yas Island, Abu Dhabi

Miral appoints Bam International as Yas Bay Arena main contractor on Yas Island, Abu Dhabi

Miral/Handout via Thomson Reuters Zawya

01 October 2019
Abu Dhabi's first multi-purpose indoor venue, Yas Bay Arena, is 75 percent complete, Miral, the developer of the mixed-use waterfront destination, announced today.

The mega development is expected to position Yas Island as a top global destination for entertainment and leisure and business.

"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," Mohamed Abdalla Al Zaabi, CEO of Miral said about the Yas Bay project, in a statement.

Miral's $1.1 billion investment into the $3.3 billion project, includes developing the public realm, the infrastructure, the Hilton hotel and Yas Bay Arena.

The 14 million square feet development is comprised of three distinct areas: The Waterfront, Residences at Yas Bay, and twofour54.

The Waterfront in Yas Bay, 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.

The multi-purpose indoor venue will provide flexible capacity from 500 people to around 18,000 people.

The new 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.

A Hilton hotel set within the Waterfront is primed to become one of Yas Island's key landmarks. The 546-room hotel is scheduled for completion in 2020. Yas Bay also incorporates Residences at Yas Bay, an urban island community with capacity for 15,000 residents through 35 low-to-mid-rise residential plots

The new 3.2 million square feet 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.

(Writing by Seban Scaria seban.scaria@refinitiv.com, editing by Anoop Menon)

Our Standards: The Thomson Reuters Trust Principles

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2019