Twofour54, an Abu Dhabi-based tax-free media and entertainment free zone, has appointed Emirati property developer Aldar Properties as the strategic real estate partner of the Media Zone Authority to build its new permanent home on Yas Island, Invest-Gate reports.

The new home is set to initially cover a gross floor area (GFA) of 95,000 square meters, with expectations to grow to over 300,000 square meters.

The project will increase twofour54’s capacity by 25% and attract the most international, innovative companies as partners.

The development is expected to lure more than 15,000 new residents to Yas Island.