Miral Announces AED 625 Million Investment To Develop Phase One Of Yas Village

September 10, 2019

Miral, Abu Dhabi’s creator of destinations, announced a new development; Yas Village – an affordable modern living community on Yas Island, spreading across 108,600 square meters and fitting all needs. Miral is investing AED 625 million in the development’s first phase, which is set to appeal to Yas Island’s employees and to the wider community of the Abu Dhabi Emirate.

Yas Village’s phase one commenced construction in May 2018 and is now 40% complete, with Singapore-based Steppe Capital investing in parts of the development’s first phase.

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. 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 one of Yas Village. 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.”

Yas Village, the first living community of its kind on Yas Island, will include nine residential buildings, sports and leisure facilities, along with retail and dining options.

Comprising of one and two bedroom units, the development’s phase one is scheduled for handover by end of 2020 with a total of 994 units. As for phase two, it will bring an additional 758 units to Yas Village.

Commenting on Steppe Capital’s investment within phase one, Dauren Yederbay, Director, 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.”

Yas Village’s distinctive location will give its residents the opportunity to be part of the immersive Yas Island experience, which includes world-class entertainment and leisure attractions.