UAE: Mubadala, Aldar To Invest Over Dh60 Billion In Al Maryah Island Expansion Project

Abu Dhabi sovereign investor Mubadala Investment Company and property developer Aldar on Monday announced that they would invest over Dh60 billion to expand Al Maryah Island to enhance Abu Dhabi's global position as the 'Capital of Capital'.

The project will comprise 1.5 million sqm of new office, residential, retail, and hospitality space, integrating commerce, community, and lifestyle, and further elevating Al Maryah Island's distinctive blend of international business and luxury living.

At the forefront of the island's next phase is the Al Maryah Waterfront enhancement project, featuring a striking bay fountain with water shows soaring up to 75-metres high. This will anchor a reimagined coastline, adding vibrant dining, leisure, and event spaces that complement the island's existing energy and appeal.

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The masterplan includes new hotels, building on the existing luxury offering anchored by the Four Seasons and Rosewood Abu Dhabi. It also envisions the creation of a sustainable, connected environment with 2.5km of air-conditioned pedestrian corridors, more than 12,000 parking spaces, and 20 per cent open space in the heart of Abu Dhabi's financial district.

Three new bridges are proposed to connect the north side of Al Maryah Island to Reem Island and the Abu Dhabi mainland, which will also ensure that Saadiyat Island is less than a 10-minute drive. Enabling works are scheduled to commence in 2026.

The mixed-use development is aimed at significantly enhancing ADGM, Abu Dhabi's international financial centre and the region's leading IFC. ADGM has experienced unprecedented momentum, with more than 11,000 active licences now registered in the free zone, positioning it among the fastest-growing financial hubs worldwide. Demand for space is exceptionally strong, with almost 40,000 individuals already based within the financial district.

The expansion of Al Maryah Island will deliver more than 450,000 sqm of additional Grade A office space - effectively doubling the island's total supply and reinforcing its position as a leading global financial hub.

Due to the influx of international investors and professionals, luxury homes at Al Maryah Island are in high demand, with branded residential properties such as the W and St. Regis currently under development. The new expansion is expected to further support this influx by adding more than 3,000 luxury residences on the waterfront.

"This joint venture marks a defining moment in realising the full potential of Al Maryah Island. As Abu Dhabi's premier business and lifestyle destination, Al Maryah has always embodied Mubadala's long-term commitment to cultivating globally competitive, future-ready destinations. By unlocking the island's final major landbank, we are accelerating its evolution into one of the world's most dynamic financial and lifestyle hubs - expanding its commercial strength, enhancing its residential and retail offering, attracting international investors, and reinforcing its vital role at the heart of Abu Dhabi's economic diversification journey,” said Dr Bakheet Al Katheeri, CEO of UAE Investments Platform at Mubadala.

“This expansion represents a pivotal milestone for Abu Dhabi's continued growth as a global financial centre, with ADGM at its heart. With Mubadala and Aldar's proven track record in master planning and delivering iconic destinations, we are collaborating to create a world-class, mixed-use environment that will attract leading businesses, investors and talent from around the world. It will support the UAE's vision for a diversified and knowledge-based economy while enhancing the capital's allure as a place to live, work and invest,” said Talal Al Dhiyebi, group CEO of Aldar.

“Today's landmark expansion of Al Maryah Island marks a pivotal step in strengthening Abu Dhabi's standing as a global capital for finance. With ADGM at the heart of this transformation, the development reflects our ambition to create one of the world's most progressive and connected financial districts, an ecosystem where international institutions, investors, and innovators can thrive,” said Salem Al Darei, CEO of ADGM Authority.

The joint venture is held 60 per cent by Aldar and 40 per cent by Mubadala.

The two companies are also nearing legal completion of a retail joint venture that will own and operate Abu Dhabi's premier shopping destinations, including The Galleria Al Maryah Island Yas Mall and the upcoming Saadiyat Grove Mall.

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