Leading UAE developer Miral said more than 40 per cent of construction work has been completed on Phase One of its Dh625 million ($170 million) project coming up on Yas Island in Abu Dhabi.

The Phase One construction works began in May last year with Singapore-based Steppe Capital partially investing in the 108,600-sq-m development.

Miral chief portfolio officer BR Kiran said: "Yas Village, the first affordable residential development on Yas Island, brings a modern and welcoming living community to the Island. As we continue to attract quality investments within Miral’s various ongoing and upcoming projects on Yas Island, we are delighted to have Steppe Capital invest in the development of Phase One of Yas Village."

"Once complete, we look forward to welcoming employees from the island and its surrounding areas within Abu Dhabi to become residents of this inclusive community," he stated.

On completion, the Yas Village will feature a total of 994 units comprising one and two-bedroom units, he added.-TradeArabia News Service