Work on Abu Dhabi’s US$1.1 billion Yas Bay development is forging ahead, with another construction milestone reached, according to developer Miral.

“We have made significant progress across Abu Dhabi’s new iconic development, Yas Bay,” said the company’s chairman, H.E. Mohamed Khalifa Al Mubarak.

“The latest milestones underscore our vision for Yas Island to position it as a top global destination for entertainment, leisure and business.”

He was speaking after His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Executive Council and Chairman of Abu Dhabi Executive Office, visited the mega waterfront development for a construction update.

Yas Bay is part of Miral’s $3.26 billion portfolio of diverse leisure and entertainment developments under construction on Yas Island and will further strengthen the island’s status as a global destination and a key contributor to the UAE’s tourism industry.

Encompassing three distinct areas – The Waterfront, The Residences and media giant twofour54 – Yas Bay is set to attract 15,000 future residents and more than 10,000 top business professionals.

Development focal point, The Waterfront, will be a vibrant leisure and entertainment destination with the new Etihad Arena, Abu Dhabi’s first-of-its-kind multi-purpose indoor entertainment venue, at its  epicentre.

The arena is designed to accommodate both large-scale and private events, with flexible capacity ranging from 200 to 18,000 people.

Also located at The Waterfront, The Hilton Yas Bay Hotel is currently 93 per cent complete and represents a $326 million investment. The five-star hotel, which will feature 546 rooms and a beach club, are on track to open before the end of the year.