Miral invests AED12 bn to shape the next phase of Yas Island’s growth
Miral plans to invest over AED 12 billion in Yas Island over the next five years to enhance attractions and hospitality
Miral, the company managing Yas Island in Abu Dhabi, has announced a substantial Dh12 billion ($3.26 billion) investment over the next five years to enhance its hospitality and theme park facilities. Miral's group chief executive, Mohamed Al Zaabi, disclosed this investment plan at the Arabian Travel Market in Dubai.
The funds will primarily be used to expand a Warner Bros-themed hotel with 250 rooms and build a new lifestyle hotel at Yas Bay. Mr Al Zaabi stated that their goal is to increase the total number of rooms by almost 35% in the next five years. Additionally, two of the new hotels will be themed around popular intellectual properties, a trend driven by growing demand for such accommodations. The specific brands behind these themed hotels have not been disclosed.
The investment plan also includes the Harry Potter-themed expansion of the Warner Bros theme park, which is scheduled to launch in 2029. This expansion will introduce new rides and experiences at Ferrari World and other parts of the resort. Mr Al Zaabi hinted at further exciting experiences that will be unveiled as part of these expansion projects.
Miral intends to fund the majority of this investment through its own earnings, with some financial assistance. The group CEO emphasized their close collaboration with Disney on the development of the new Disneyland Abu Dhabi theme park. Mr Al Zaabi expressed satisfaction with the current progress, highlighting that they meet with Disney representatives every month. However, he refrained from providing any timeline for the theme park's opening, which is also planned on Yas Island.
Written by urgent.news from The National Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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