Today's Edition
ABU DHABI (ALETIHAD)
Mubadala Investment Company and Aldar have announced a joint venture to expand Al Maryah Island at gross value of over Dh60 billion, according to a statement issued on Monday.
The new development covers the island’s final major landbank on the north side and will add substantial Grade A offices, luxury homes, retail and hospitality space as part of the next phase of Abu Dhabi’s international financial district.
According to the statement, the large-scale mixed-use expansion covers almost 500,000 square metres and will introduce 1.5 million square metres of new space across commercial, residential and hospitality categories.
The project will significantly enhance ADGM, which is among the fastest growing financial hubs with more than 11,000 active licences and nearly 40,000 individuals now based in the financial district.
The plan includes more than 450,000 square metres of Grade A office development, effectively doubling the current supply on the island.
The residential component will deliver over 3,000 luxury waterfront homes to meet rising demand from international investors and professionals. The expansion will also add 40,000 square metres of experiential luxury retail, dining and leisure offerings, and an enhanced marina.
A key element of the next phase is the Al Maryah Waterfront enhancement project, which will feature a new bay fountain capable of water shows reaching up to 75 metres.
New hotels are planned to complement existing properties, including the Four Seasons and Rosewood Abu Dhabi, to accommodate projected growth in business and leisure visitors.
Dr Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala, said: “This landmark joint venture marks a defining moment in realising the full potential of Al Maryah Island. As Abu Dhabi’s premier business and lifestyle destination, Al Maryah has always embodied Mubadala’s long-term commitment to cultivating globally competitive, future-ready destinations.
"By unlocking the island’s final major landbank, we are accelerating its evolution into one of the world’s most dynamic financial and lifestyle hubs — expanding its commercial strength, enhancing its residential and retail offering, attracting international investors, and reinforcing its vital role at the heart of Abu Dhabi’s economic diversification journey.”
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said the project represents a major step in strengthening Abu Dhabi’s position as a global financial centre.
“This expansion represents a pivotal milestone for Abu Dhabi’s continued growth as a global financial centre, with ADGM at its heart. With Mubadala and Aldar’s proven track record in master planning and delivering iconic destinations, we are collaborating to create a world-class, mixed-use environment that will attract leading businesses, investors and talent from around the world. It will support the UAE’s vision for a diversified and knowledge-based economy while enhancing the capital’s allure as a place to live, work and invest.”
Salem Al Darei, Chief Executive Officer of ADGM Authority, said the development reinforces Abu Dhabi’s ambition to build one of the world’s most progressive financial districts. “Today’s landmark expansion of Al Maryah Island marks a pivotal step in strengthening Abu Dhabi’s standing as a global capital for finance.
"With ADGM at the heart of this transformation, the development reflects our ambition to create one of the world’s most progressive and connected financial districts, an ecosystem where international institutions, investors, and innovators can thrive. This next chapter reinforces Abu Dhabi’s long-term economic vision and accelerates our journey in shaping a dynamic, future-ready hub that sets new global benchmarks for growth, opportunity, and impact.”
The masterplan includes major infrastructure additions such as 2.5 km of air-conditioned pedestrian corridors, more than 12,000 parking spaces and 20% dedicated open space.
Three new bridges will connect the north side of Al Maryah Island to Reem Island and the Abu Dhabi mainland, reducing the drive to Saadiyat Island to under 10 minutes.
Enabling works are scheduled to begin in 2026.
The joint venture will be owned 60% by Aldar and 40% by Mubadala. According to the statement, the partnership builds on decades of collaboration across multiple real estate asset classes and includes ongoing projects on Al Maryah Island such as Al Maryah Tower and One Maryah Place, as well as an upcoming retail joint venture involving The Galleria Al Maryah Island, Yas Mall and the planned Saadiyat Grove Mall.
