By Gavin Gibbon
Mohamed Al Zaabi, CEO of Miral Asset Management, reveals four plots were sold on the entertainment island last year
Talks are at a “very advanced stage” with potential investors to sell three plots of land on Abu Dhabi’s Yas Island, according to Mohamed Al Zaabi, CEO of Miral Asset Management, the developer of the destination.
Al Zaabi revealed four plots were sold last year, including two in the $3.26 billion Yas Bay waterfront destination on the southern edge of the island.
Although he didn’t give exact details in terms of location, he said the three more sales were “in serious discussion with other investors”, both local and international, on Yas Island.
There are currently 35 plots available on Yas Bay, a 14 million square feet development is comprised of three distinct areas: The Waterfront, Residences at Yas Bay, and twofour54.
“We have just finished the infrastructure, so now you can go and drive in Yas Bay,” said Al Zaabi.
“Once the investor buys the land they can start immediately the design and construction. It’s a very unique masterplan.”
Once complete, the project will encompass the 18,000-seat Etihad Arena, which is currently 88 percent complete and due to open this year; Residences at Yas Bay – which will be home to 15,000 residents – a boardwalk and pier with 37 cafés and restaurants, 19 retail outlets, beach club, and two hotels, as well as being the new hub for twofour54.