Mubadala Investment Company, an Abu Dhabi sovereign investor, and Aldar have launched a landmark joint venture to expand Al Maryah Island, unlocking the next phase of growth in the international financial district and further enhancing Abu Dhabi’s global position as the Capital of Capital.
With a gross development value exceeding AED60 billion, the north side of Al Maryah Island holds the final undeveloped plot of land, which spans almost 500,000sqm. 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.
The mixed-use development will significantly enhance ADGM, Abu Dhabi’s international financial centre and the region’s leading IFC, whose jurisdiction spans both Al Maryah and Al Reem Islands. 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 450,000sqm of additional Grade A office space, 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.
The expansion will further enhance Al Maryah Island’s position as Abu Dhabi’s leading lifestyle and business destination, introducing new experiences that build on the island’s fully integrated urban ecosystem. Already home to The Galleria — the capital’s premier luxury shopping destination, Cleveland Clinic Abu Dhabi, ACTIVE — one of the UAE’s largest and most advanced urban sports hubs, and the UAE’s most Michelin Guide-awarded dining location; Al Maryah Island will continue to redefine modern city living with an additional 40,000sqm of experiential luxury retail, dining, and a world-class marina.
At the forefront of the island’s next phase is the Al Maryah Waterfront enhancement project, featuring a bay fountain with water shows soaring up to 75 metres high. This new centrepiece will anchor a reimagined coastline, adding vibrant dining, leisure, and event spaces.
The expansion will also include Abu Dhabi’s new Convention Centre, establishing Al Maryah Island as a platform for major events such as Abu Dhabi Finance Week and other international exhibitions and business gatherings. With business and leisure visitors expected to grow, demand for hotel space will also increase. The masterplan includes new hotels, building on the existing luxury offering anchored by the Four Seasons and Rosewood Abu Dhabi.
Dr Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala, said: "This landmark joint venture with Aldar is a natural evolution of our strong partnership, building on the success we have achieved to date. It underscores Mubadala's unwavering commitment to strategic value creation for Abu Dhabi and the UAE. By unlocking the full potential of this prime landbank, we are not only expanding our premier business and lifestyle destination but also driving economic diversification and cultivating a world-class hub for business and community life."
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said: “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.”
Salem Al Darei, Chief Executive Officer of ADGM Authority, said: “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. This next chapter reinforces Abu Dhabi’s long-term economic vision and accelerates our journey in shaping a dynamic, future-ready hub that sets new global benchmarks for growth, opportunity, and impact.”
Improving connectivity is core to the area’s broader infrastructure plans. The masterplan envisions the creation of a sustainable, connected environment with 2.5 km 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 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 joint venture — held 60 per cent by Aldar and 40 per cent by Mubadala — builds on a strategic partnership spanning more than two decades between the two entities. Most recently, Mubadala and Aldar entered into a series of joint ventures across multiple real estate asset classes in Abu Dhabi, including commercial, retail, residential, and logistics.
The partners bring a strong precedent of collaboration on Al Maryah Island, demonstrated through projects including Al Maryah Tower and the upcoming One Maryah Place. They 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.
The expansion of Al Maryah Island joint venture marks the next chapter in this long-term partnership, which is shaping the future of Abu Dhabi’s most important destinations.
