Abu Dhabi real estate: Object 1 acquires Al Reem Island land for $1.23bn property projects

Object 1 has closed a major land investment in Abu Dhabi, acquiring four waterfront plots on Al Reem Island as the developer accelerates its expansion into the capital and deepens its focus on long-term residential communities.

The real estate developer said it has secured four plots within the Shams Gate District on Al Reem Island, with a combined development area of more than 2 million square feet and a total sales value of AED4.5bn ($1.23bn).

The transaction marks a defining next step following Object 1’s expansion into Abu Dhabi in late 2025, which included the launch of its first Sales Gallery in the capital and the announcement of long-term growth plans for the emirate.

The Al Reem Island land acquisition aligns with the government’s National Family Growth Agenda 2031, with 2026 designated as the Year of Family.

According to the developer, the investment prioritises land positions suited to long-term residential communities, supporting stability, community-led living and environments designed to accommodate families at different life stages.

Egor Maslennikov, Chairman and Founder of Object 1, said: “Our entry into Abu Dhabi was always intended as a long-term commitment, not a one-off expansion. Closing this investment on Al Reem Island reflects our confidence in the capital’s direction and our readiness to contribute meaningfully to its residential landscape.

“Abu Dhabi offers the right balance of stability, planning clarity, and community demand, which aligns closely with how we build.”

Abu Dhabi real estate

Abu Dhabi’s real estate market has entered a phase of accelerated growth, underpinned by rising buyer confidence and structural shifts in development patterns.

Over the past year, sales activity increased sharply, with transactions rising by 76 per cent and total deal values more than doubling to AED25.3bn ($6.89bn).

This growth has reinforced the capital’s appeal as a stable, high-growth destination for long-term residential investment.

Against this backdrop, Abu Dhabi has become a core pillar of Object 1’s UAE strategy. The developer has delivered more than 2,600 homes and built a development pipeline exceeding 4.5 million square feet in Dubai.

The Al Reem Island acquisition positions Object 1 as an active participant in Abu Dhabi’s next phase of growth, allowing the company to translate its Dubai momentum into sustained, long-term impact in the capital.