Miral will invest more than AED12bn ($3.3bn) in Yas Island over five years, adding new attractions, rides and hotel rooms, separate from the Disney project.
The AED12bn ($3.3bn) investment is separate from the previously announced Disney theme park project, meaning the development of Disney’s first resort in the Middle East is not included in the new spending figure.
Miral said the investment would fund a pipeline of new developments as well as expansions and upgrades to existing attractions. Plans include expanding Yas Island’s existing theme parks and attractions and introducing new immersive rides and experiences.
The island’s hospitality offering will also grow, with additional hotel rooms and upgrades to its accommodation portfolio. Miral did not identify the individual new attractions or hotels, or specify how the AED12bn ($3.3bn) would be divided between the projects, in the announcement.
Mohamed Khalifa Al Mubarak, Chairman of Miral, said: “This investment reflects our commitment to Abu Dhabi’s long-term vision and our ambition to continue shaping one of the world’s most dynamic tourism destinations. Yas Island has become a global success story, demonstrating how world class experiences contribute to economic growth, enhance quality of life and strengthen Abu Dhabi’s appeal to audiences from around the world. Over the next five years, this investment will build on that momentum, introducing new experiences and expanding our hospitality and leisure offering to meet our evolving visitor expectations.”
