Mubadala and Aldar announce a landmark joint venture at Abu Dhabi’s Al Maryah Island
Mubadala & Aldar Reveal Abu Dhabi's landmark AED 60bn expansion on Al Maryah Island with a redesigned marina front district
Abu Dhabi’s skyline is poised for a major new phase after Mubadala Investment Company and Aldar Properties announced a landmark joint venture to develop the final major landbank on Al Maryah Island, in a project with a gross development value exceeding AED 60 billion (about US$16.3 billion). The masterplan will unlock nearly 500,000 sqm of previously undeveloped land on the island’s north side and deliver more than 1.5 million sqm of mixed-use gross floor area, including Grade A offices, luxury homes, hotels, retail and an upgraded marina-front district.
A Landmark AED 60 Billion Vision Will Redefine Al Maryah Island as a Premier Global District for Business, Living, and Hospitality
According to the joint announcement, the expansion will significantly enlarge Abu Dhabi Global Market (ADGM) and aims to double the amount of premium office space on Al Maryah Island. The plan includes large-scale Grade A office stock to accommodate global firms, new waterfront residential neighbourhoods, hospitality assets, and curated retail and leisure experiences all integrated around a redesigned marina and public realm enhancements. The developers said the proposal will add roughly 1.5 million sqm of new built area on the island.
The masterplan also envisages a striking waterfront enhancement for the Al Maryah marina, featuring new promenades and a central bay fountain with choreographed water displays that are expected to define the island’s public waterfront identity.
Al Maryah Island is Abu Dhabi’s international financial district and home to ADGM, premium retail and hospitality, and corporate HQs. Unlocking the north side landbank described by the partners as the island’s final major developable parcel enables a materially larger and more integrated district that connects business, living and leisure in one precinct. The scale and centrality of the site mean the development will directly shape Abu Dhabi’s appeal to international firms, skilled talent and global investors.
Market reaction emphasises the project’s strategic value. Observers note that adding large volumes of Grade A office space alongside luxury housing will strengthen ADGM’s offer to multinational corporations and support the emirate’s ambition to grow its financial services ecosystem. The venture also provides a substantial pipeline of deliverables that can sustain construction activity, employment, and corporate leasing demand over the coming decade.
Public statements describe the development as a phased masterplan; Aldar and Mubadala did not publish a full construction timeline in the initial release but said the programme will be implemented over multiple stages in line with market demand and planning approvals. The project covers almost 500,000 sqm of land and will be delivered in phases to integrate with ADGM’s continued growth and market absorption for office and residential stock.
The joint venture pairs two of the UAE’s most influential investment and development organisations: Mubadala, as a strategic investor with a long-term industrial and investment mandate, and Aldar, the UAE’s leading developer with deep experience delivering large-scale mixed-use communities. The partnership is being framed as a national-scale collaboration to elevate Abu Dhabi’s status as the region’s “Capital of Capital” and to reinforce ADGM as a global finance hub.
Short- and medium-term implications are multi-fold. On the demand side, additional premium office stock can attract multinational companies seeking modern, well-connected headquarters in a city that is increasing its institutional and financial services weight. On the supply side, careful phasing will be essential to avoid oversupply in office markets but the partners have signalled a market-responsive delivery approach intended to match leasing demand. For residential and hospitality, the project brings a new tranche of luxury waterside product to a tightly contested premium segment.
The development will likely deepen Abu Dhabi’s investment ecosystem, creating long-term institutional-grade assets and new leasing opportunities for corporates and investors. It also supports wider economic goals: attracting talent, increasing business tourism, and providing a platform for financial services expansion under ADGM’s regulatory and business framework.
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