The leading master developers Baraka Real Estate Development Company and Miral have decided to collaborate in order to launch premium residential projects in the long-awaited Yas Bay area. This vital step aims to enhance the position of Yas Island as an attractive global destination for entertainment, business and recreation. The two companies signed a contract in October 2021 and Baraka Real Estate Development Company, which is part of the Bin Ham Group, is already preparing to begin the construction of a residential building within the Residences of Yas Bay.
Sheikh Mohammed Bin Musallam Bin Ham Al-Ameri, Deputy Chairman of the Bin Ham Group, said:
"We welcome this partnership with Miral, the leading real estate developing company, which represents an important stage in our journey to achieve our ambitious goals of supplying the entertainment and real estate sector in the country with vital integrated projects."
Set to attract over 10,000 specialists and 15,000 future residents, Yas Bay is one of the most highly-anticipated waterfront developments in Abu Dhabi. All in all the island consists of 3 main areas; the above-mentioned Residences in Yas Bay, the Waterfront and Yas Creative Hub. The latter will become the new home of twofour54 Abu Dhabi, which is the Emirate’s media free zone and will feature the Arab Film Studio and a production and studio space of approximately 70,000 sq. ft which will double the amount of studio space in Abu Dhabi.
Yas Creative Hub will also house some of the largest media companies in the world, such as Unity Technologies, Ubisoft and CNN. Yas Bay Waterfront opened its doors to the public on 1 December 2021, offering its visitors a range of award-winning fine eateries, as well as leisure and entertainment brands. Among the must-visit F&B venues, there are Café del Mar, The Lighthouse, La Carnita, Asia Asia and Lock Stock and Barrel. It is worth noting that Yas Bay Waterfront regularly hosts exciting events, including parades, musical renditions and DJ nights, with firework displays taking place every weekend throughout December.