Miral announces AED625 million Yas Village development

ABU DHABI, Miral, an Abu Dhabi Government-backed developer, has announced its investing AED625 million in Yas Village, a property development project on Yas Island.

Phase one construction works commenced in May 2018 and is now 40 percent complete, with Singapore-based Steppe Capital partially investing in the development.

Commenting on the announcement, 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.”

Comprising of one and two-bedroom units, the development’s phase one is scheduled for handover by the end of 2020 with a total of 994 units. As for phase two, it will bring an additional 758 units to Yas Village. The development is spread across 108,600 square metres.

Source: Emirates News Agency