Aldar Properties a leading developer in the UAE, and Mubadala Investment Company, a top sovereign investor, have officially started construction on their new two tower, Grade A commercial development named One Maryah Place.
Aldar Properties, a leading developer in the UAE, and Mubadala Investment Company, a top sovereign investor, have officially started construction on their new two tower, Grade A commercial development named One Maryah Place. This impressive project is located on Al Maryah Island, which is known as Abu Dhabi’s premier business and lifestyle hub.
One Maryah Place is situated within the Abu Dhabi Global Market (ADGM), an award winning international financial center. This project aims to provide additional high-quality commercial space to the ADGM freezone, addressing the increasing demand from global corporations and financial institutions.
Once completed, One Maryah Place will offer approximately 98,000 square meters of Grade A office space spread across two interconnected towers. This new development will further enhance ADGM’s reputation as the leading financial center in the region. The towers will be connected by an indoor walkway and will include various amenities such as ground floor retail units, a rooftop dining venue, a mosque, and five levels of basement parking with nearly 2,200 spaces.
The prime location of One Maryah Place on Al Maryah Island ensures that it is conveniently accessible. It will have indoor connections to Al Maryah Tower, The Galleria Al Maryah Island, and ADGM Square. Future tenants will also enjoy easy access to key areas like Abu Dhabi City, Al Reem Island, and Saadiyat Island.
Jassem Saleh Busaibe, CEO of Aldar Investment, highlighted the growing demand for Grade A commercial spaces on Al Maryah Island, driven by the interest of international blue chip companies looking to establish their regional headquarters in ADGM. He mentioned that One Maryah Place, developed in collaboration with Mubadala, will offer premium office towers with spacious floor plans and excellent amenities, appealing to businesses wanting to enter Abu Dhabi or relocate to a new Grade A space.
Khalifa Al Romaithi, Executive Director of UAE Real Estate and Infrastructure at Mubadala’s UAE Investments Platform, stated that One Maryah Place reflects their commitment to investing in Abu Dhabi’s future as a global business and investment destination. The development is designed to meet the growing demand for world class office space from international companies looking to establish a presence in ADGM. Moreover, both towers aim to achieve LEED Gold certification and an Estidama 3 Pearl rating, demonstrating their commitment to sustainable development.
This project is a result of the strategic partnership between Aldar and Mubadala, who share a commitment to Abu Dhabi’s growth. Aldar’s significant market expertise, evidenced by a 97% occupancy rate across their commercial portfolio, complements Mubadala’s dedication to promoting sustainable economic development in the UAE. This partnership has previously seen success with the acquisition of four Grade-A office towers at ADGM and the joint acquisition of Al Maryah Tower.
The strong demand and high occupancy rates of commercial spaces underscore the robust performance of Abu Dhabi’s commercial property market. This success is supported by a stable regulatory environment and business- and investor friendly policies in the UAE.
Upon completion, One Maryah Place will be added to the Aldar Investment Properties (AIP) portfolio, which includes AED 27 billion worth of income generating real estate assets. This addition will strengthen AIP’s portfolio, making it even more diverse and resilient.
In summary, the development of One Maryah Place by Aldar Properties and Mubadala Investment Company marks a significant milestone in Abu Dhabi’s real estate sector. By offering high quality commercial space and prioritizing sustainability, One Maryah Place is set to enhance ADGM’s position as a leading business and lifestyle destination. This project is expected to attract international businesses, drive economic growth, and reinforce Abu Dhabi’s status on the global stage. Keep an eye on One Maryah Place as it promises to redefine commercial real estate in the region.
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