Miral Asset Management, a UAE real estate property investment and management firm, announced that it is close to completing construction on phase one of its upcoming project on Yas Island in Abu Dhabi.

The phase one construction works on the project, dubbed Yas Village, began in May last year with Singapore-based Steppe Capital partially investing in the 108,600 square meters development.

Miral noted that over 40 percent of the construction work has been completed on phase one of its 625 million dirhams ($170 million) affordable residential development on Yas Island.

On the closure of the deal, anticipated in 2020, the Yas Village will feature a total of 994 units comprising one and two-bedroom units.