Yas Island developer Miral signs Yas Bay home deals in Abu Dhabi
Siadah International Real Estate to build two residential projects at waterfront scheme where Yas Arena is taking shape
Yas Island developer Miral has signed two land sales with Siadah International Real Estate Development in Abu Dhabi for the development of two residential buildings on the Yas Bay waterfront, where the 18.000-seater Yas Bay Arena is currently being constructed by Dutch contractor Bam International.
Commenting on the agreements, Miral's chief executive officer, Mohamed Abdalla Al Zaabi, said: “With the recent changes in law issued by the Abu Dhabi government allowing foreigners to acquire freehold lands and develop properties in designated zones, Yas Bay is now on the global map as a real estate investment destination."
In a Miral statement, Siadah CEO, Chawqui Derradji, added: “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 view of the Yas Bay waterfront.”
This March, the longest roof truss of Yas Arena – autographed by Miral chairman, HE Mohamed Khalifa Al Mubarak, and Al Zaabi – was lifted into place, marking a major construction milestone for the entertainment development.