His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, today visited several construction and tourism projects that are being constructed at Yas Island, Abu Dhabi, including "Yas Bay," the "West Yas" a residential-commercial project, and "Warner Bros. World Abu Dhabi."
During his visit, His Highness Sheikh Mohamed bin Zayed stressed that the UAE, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has launched major projects to provide new opportunities for tourism and economic and social growth, which are the cornerstones of advancement and development and are key to making Abu Dhabi an attractive international tourism and entertainment destination and ensure the welfare and happiness of the UAE’s residents and visitors.
Diversifying local development and income sources is a major requirement while establishing vital facilities and new projects for Abu Dhabi’s future will promote its advancement, growth, leadership and competitiveness, he added.
His Highness Sheikh Mohamed highlighted the importance of attracting international tourism companies and encouraging investment in this sector, which has become an integral part of the Abu Dhabi Vision 2030 and has placed it on the international tourism map.
The projects are part of the goal of Yas Island to become among the top ten global entertainment destinations while the total investment in the projects has reached AED20 billion. Aldar Properties is currently developing 5,000 residential units in Yas Island.
H.H. Sheikh Mohamed was accompanied during his tour by H.H. Sheikh Khalid bin Mohamed bin Zayed Al Nahyan; H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Department of Transport in Abu Dhabi; Noura bint Mohammed Al Kaabi, Minister of Culture and Knowledge Development; Khaldoon Khalifa Al Mubarak, Chairman of the Executive Affairs Authority; Jassim Mohammed Buatabh Al Zaabi, Chairman of the Abu Dhabi Executive Office; Mohamed Mubarak Al Mazrouei Undersecretary of the Crown Prince Court of Abu Dhabi; Mariam Eid Al Muhairi, Director-General of the Abu Dhabi Government Media Office; Talal Al Dhiyebi, CEO of Aldar Properties, and Mohamed Abdalla Al Zaabi, CEO of Miral Asset Management.
H.H. Sheikh Mohamed began his tour at the construction site of Yas Bay, where he viewed its ongoing construction. The large-scale project will include three sections - Yas Bay, a lively seafront and entertainment area; the "media zone," which will house the new headquarters of "twofour54;" and the "residences area," which is a residential complex that will offer a complete lifestyle.
Miral Asset Management has invested AED4 million in the first stage of the 14-million square foot project, which should be completed in 2019.
Twofour54 has appointed Aldar Properties to develop its new permanent headquarters in Yas Bay. The total investment in the first stage of the new media free zone is valued at around AED1 billion.
H.H. Sheikh Mohamed then visited the major projects of Aldar Properties on Yas Island, including the "West Yas" residential project, which is valued at AED4.5 billion, as well as 1,010 independent villas, a mosque, two schools and sporting facilities.
H.H. Sheikh Mohamed also visited and was briefed about Warner Bros. World Abu Dhabi, which is worth US$1 billion and includes 29 games, shows and entertainment facilities, and viewed its construction site.