Miral Asset Management, the Government backed developer of Yas Island in Abu Dhabi, has appointed Vindico to its Yas South integrated destination resort.
“We are very pleased to be building on our working relationship with Miral,” comments Vindico Managing Director, Richard Kim. “We appreciate how the team at Miral values our track record of delivery with them, yet they are a Client who looks to the future in embracing new approaches in project delivery thinking.”
Miral Asset Management has appointed Vindico to deliver over 50 F&B and 20 retail units in the Yas South mixed-use development on Abu Dhabi’s Yas Island.
Vindico first supported Miral Asset Management LLC as retail delivery managers for Cascade Dining, the dining precinct linking Ferrari World to Abu Dhabi’s largest regional shopping centre, Yas Mall. Most recently, Vindico worked with Miral to deliver the retail and dining offer at the A’l Bahar project on Abu Dhabi’s famous Corniche.
At Yas South, which includes over fifty food & beverage and twenty retail outlets, Vindico will be providing an integrated retail delivery design, management and on site solution to support Miral’s tenants and their brands through the design, fitout and opening processes.
“We understand the risks taken by developers of retail real estate,” adds Kim, “and so the commercial relationship with our Clients acknowledges these variables in a fee model that is focused on outcomes achieved, not hours worked.”
“Miral took the time to look beyond a traditional, resourcing based model that has not kept pace with the demands of today’s retail environment. We look forward to working with Miral and the brands who will make Yas South a fantastic new destination for Abu Dhabi.”
Yas South is scheduled to open in 2019.
For more information, or to contact Richard, get in touch:
Yas South is a AED 12 billion (USD 3.3 billion) master development with three precincts: The Residences at Yas Bay, Media District and Yas Bay – the centrepiece designed to become an iconic waterfront destination that includes two hotels, a recreational pier and Yas Arena, an 18,000 seat entertainment venue.