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CONSTRUCTION NEWS

Miral inks Abu Dhabi Yas Bay residential plot sales deal

May 18, 2019 12:17 PM

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

Miral, Abu Dhabi’s creator of destinations, said it has signed land sales agreement with Siadah International Real Estate Development for the development of two residential buildings at Yas Bay. 
 
Yas Bay, vibrant new waterfront community within Yas Island to live, work and play, 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 said: "Today, 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," stated Al Zaabi. 
 
UAE-based Siadah International Real Estate Development CEO Chawqui Derradji said: "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.-TradeArabia News Service
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