Abu Dhabi is poised for a historic transformation in its real estate sector as Mubadala Investment Company and Aldar unveil a landmark joint venture to develop the remaining significant land bank on Al Maryah Island, boasting a gross value exceeding AED 60 billion. This ambitious project not only represents a significant milestone for the city but also positions Abu Dhabi as a leading contender in the global financial landscape.
The collaborative initiative signifies the next step in developing Abu Dhabi’s international financial district and enhances the city’s goal of becoming known as the global “Capital of Capital.”
Aldar and Mubadala Drive the Capital’s Ambition
According to the collaborating partners, the northern section of Al Maryah Island spans almost 500,000 square meters and will evolve into a dynamic mixed-use district featuring over 1.5 million square meters of development. This area will encompass Grade A offices, luxury residences, retail outlets, and hospitality establishments, all designed to harmoniously integrate commerce, community, and lifestyle.
This development is set to significantly enhance the Abu Dhabi Global Market (ADGM), which lies at the island’s core. Currently, ADGM boasts over 11,000 active licenses and is recognized as one of the fastest-growing financial ecosystems globally. The new master plan aims to introduce an additional 450,000 square meters of Grade A office space, effectively doubling the existing supply to accommodate rising demand. Nearly 40,000 individuals are currently employed within ADGM, with many more on waiting lists for premium office spaces.
There is also a marked increase in demand for luxury residential spaces, fueled by international investors and professionals relocating to Abu Dhabi. The venture will feature branded residences, including facilities like W and St. Regis, and will add over 3,000 new waterfront residences to the mix.
Transforming Al Maryah Into a Global Hub
The project aims to elevate Al Maryah Island’s reputation as a premier lifestyle destination. Current attractions such as The Galleria, Cleveland Clinic Abu Dhabi, and a Michelin-recognized dining scene will be augmented by new retail and leisure offerings. The Al Maryah Waterfront is set for a significant overhaul, featuring a 75-meter fountain with choreographed water displays, new dining environments, a marina, and expanded event spaces.
As visitor numbers continue to rise, the need for more hotel accommodations will arise. The master plan includes new hospitality properties to cater to the increasing demand from business travelers and entertainment seekers, supplementing the existing Four Seasons and Rosewood hotels.
Connectivity enhancements are integral to the initiative. Proposed developments include three new bridges linking the island to Reem Island and the mainland, 2.5 kilometers of air-conditioned pedestrian corridors, over 12,000 parking spaces, and a commitment to dedicate 20 percent of the area to open spaces. Energizing works are scheduled to commence in 2026.
Dr. Bakheet Al Katheeri of Mubadala remarked that this joint venture unlocks the island’s “final major land bank” and promises to accelerate its transformation into one of the globe’s most dynamic financial and lifestyle hubs.
Aldar’s CEO, Talal Al Dhiyebi, emphasized that this expansion represents a significant accomplishment for Abu Dhabi’s evolution as a key global financial center. Similarly, ADGM Authority CEO Salem Al Darei noted that the project fortifies the capital’s standing as a prominent hub for international finance.
The joint venture, in which Aldar holds a 60 percent stake and Mubadala retains 40 percent, further builds on a cooperative partnership that has flourished over more than two decades.