Construction

Miral launches affordable residential project in Yas Island

Abu Dhabi-based developer, Miral has announced its latest project, Yas Village, the first of its kind affordable living community spread across 108,600 sqm. land inclusive of nine residential buildings, sports and leisure facilities, and retail and dining options in Yas Island, Abu Dhabi.

According to a statement from the developer, Yas Village’s phase one construction began in May 2018 and is now 40 per cent complete, with Singapore’s Steppe Capital investing in the project’s first phase.

Meanwhile, Miral’s investments accounts to $170 million for the first phase of the development, which is scheduled for handover by the end of 2020. Phase one will have 994 units while phase two will have an additional 758 units.

B.R. Kiran, chief portfolio officer of Miral, said: “Yas Village, the first affordable residential development on Yas Island, brings a modern and welcoming living community to the Island.”

“Once complete, we look forward to welcoming employees from the island and its surrounding areas within Abu Dhabi to become residents of this inclusive community,” he added.

Additionally, Dauren Yederbay, director at Steppe Capital, said: “We are excited to work with Miral on developing parts of Yas Village, which will bring the first affordable, comfortable and modern residential community to Yas Island. This is the first step in our collaboration with Miral, and we look forward to future investments and partnerships.”

Comprising of one and two bedroom units, Miral’s statement added that the development is set to appeal to Yas Island’s employees and to the wider community of the Abu Dhabi emirate.

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