In order to strengthen Abu Dhabi’s standing as the “Capital of Capital,” sovereign investor Mubadala Investment Company and real estate developer Aldar declared on Monday that they would invest more than Dh60 billion to build Al Maryah Island.
With 1.5 million square meters of new commercial, residential, retail, and hospitality space, the project will further elevate Al Maryah Island’s unique blend of luxury living and international business while merging commerce, community, and lifestyle.
The Al Maryah Waterfront development project, which includes an impressive bay fountain with water displays rising up to 75 meters high, is in the forefront of the island’s next phase. This will serve as the focal point of a redesigned shoreline, with lively dining, entertainment, and event areas that enhance the island’s current vitality and allure.
Building on the current luxury offering, which is anchored by the Four Seasons and Rosewood Abu Dhabi, the project calls for the construction of new hotels. In the center of Abu Dhabi’s financial sector, it also aims to create a sustainable, connected environment with 20% open space, more than 12,000 parking spaces, and 2.5km of air-conditioned pedestrian corridors.
In addition to ensuring that Saadiyat Island is less than ten minutes away by car, three additional bridges are planned to link the north side of Al Maryah Island to Reem Island and the Abu Dhabi mainland. In 2026, enabling work is expected to start.
The goal of the mixed-use construction is to greatly improve ADGM, the top IFC in the area and Abu Dhabi’s worldwide financial hub. With over 11,000 active licenses now registered in the free zone, ADGM has witnessed unparalleled momentum and is now one of the fastest-growing financial hubs globally. With around 40,000 people currently residing in the financial area, there is a very high demand for space.
Al Maryah Island’s expansion will provide more than 450,000 square meters of new Grade A office space, thereby doubling the island’s overall supply and strengthening its standing as a major international financial center.
Luxury residences on Al Maryah Island are in great demand due to the migration of foreign professionals and investors; branded residential properties like the W and St. Regis are presently being developed. With the addition of almost 3,000 opulent homes on the waterfront, the new development is anticipated to bolster this migration even further.
“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.
Aldar owns 60% of the joint venture, while Mubadala owns 40%.
A retail joint venture that will own and run Abu Dhabi’s top shopping locations, such as The Galleria Al Maryah Island Yas Mall and the planned Saadiyat Grove Mall, is also getting close to legal conclusion between the two businesses.
