Abu Dhabi’s Mubadala, Aldar announce landmark joint venture

Abu Dhabi is set for one of the biggest real estate expansions in its history as Mubadala Investment Company and Aldar announce a landmark joint venture to develop the final major landbank on Al Maryah Island with a gross value of more than AED60 billion.

The project marks the next phase in the evolution of Abu Dhabi’s international financial district and strengthens the capital’s ambition to be the global “Capital of Capital”.

Aldar-Mubadala drive the capital’s ambition

According to the partners, the north side of Al Maryah Island spans nearly 500,000 square metres and will be transformed into a mixed-use district with more than 1.5 million square metres of space. This will include Grade A offices, luxury homes, retail, hospitality and expanded public waterfronts designed to blend commerce, community and lifestyle.

The development will significantly expand Abu Dhabi Global Market (ADGM), which sits at the heart of the island. ADGM now has more than 11,000 active licences and one of the fastest-growing financial ecosystems worldwide. The new masterplan will add over 450,000 square metres of Grade A office space, effectively doubling current supply to meet intense demand. Nearly 40,000 people already work within ADGM, with waiting lists for premium space.

Luxury residential demand is also rising sharply, driven by international investors and professionals relocating to the capital. Branded homes including the W and St Regis are under development and the expansion will introduce more than 3,000 additional waterfront residences.

Transforming Al Maryah into a global hub

Al Maryah Island’s status as a lifestyle destination will also be strengthened. The Galleria, Cleveland Clinic Abu Dhabi, ACTIVE sports hub and a Michelin-recognised dining scene will be complemented by new retail and leisure experiences. A major enhancement of the Al Maryah Waterfront will feature a 75-metre fountain with choreographed water shows, new dining zones, a marina and expanded event spaces.

Hotel supply will grow as visitor numbers rise. The masterplan includes new properties to support demand generated by business travel and entertainment, expanding on the existing Four Seasons and Rosewood hotels.

Improved connectivity forms a core part of the plan. Proposals include three new bridges linking the island to Reem Island and the mainland, 2.5 kilometres of air-conditioned pedestrian corridors, more than 12,000 parking spaces and 20 per cent dedicated open space. Enabling works are due to begin in 2026.

Dr Bakheet Al Katheeri of Mubadala said the joint venture unlocks the island’s “final major landbank” and will accelerate its evolution into one of the world’s most dynamic financial and lifestyle hubs.

Aldar CEO Talal Al Dhiyebi said the expansion represents a milestone for Abu Dhabi’s growth as a global financial centre. ADGM Authority CEO Salem Al Darei said the project strengthens the capital’s position as a leading hub for global finance.

The joint venture, owned 60 per cent by Aldar and 40 per cent by Mubadala, builds on more than two decades of collaboration between the two groups.