Phase 1 of Miral's $170m Yas Village in Abu Dhabi 40% complete
Handover on Phase 1 of Yas Village, backed by Steppe Capital and being built by Al Rakha Group, is set for end-2020
Abu Dhabi real estate developer Miral confirmed that Phase 1 construction works on its $170m (AED625m) Yas Village project – which comprises one- and two-bedroom units and saw construction commencement by Al Rakha Group in May 2018, with backing from Singapore's Steppe Capital – had reached 40% completion.
According to UAE state news agency, Wam, the 10.9ha development will be split into two phases, with Phase 1 scheduled for handover by the end of 2020, comprising 994 units.
As part of Phase 2, 758 units will be added to Yas Village.
Al Rakha Group's website states that the company is providing construction services – including structural, infrastructure, landscaping, and mechanical, electrical, and plumbing activities – for five G+7 staff accommodation buildings, one G+1 multipurpose building as part of its contract.
KEO International Consultants is listed as engineer for the project on Al Rakha Group's website.
Commenting on the development, Miral’s chief portfolio officer, B R Kiran, said: “Yas Village brings a modern and welcoming living community to the Island.
"As we continue to attract quality investments within Miral’s various ongoing and upcoming projects on Yas Island, we are delighted to have Steppe Capital invest in the development of Phase 1 of Yas Village.”