Mubadala and Aldar Unveil $16 Billion Al Maryah Island Expansion to Double ADGM Office Space
Overview of the Major Development
A landmark development on Al Maryah Island has been announced, boasting a gross value exceeding AED 60 billion (approximately $16.34 billion). This initiative not only marks the largest expansion on the island to date but also includes the final undeveloped plot on its north side, covering nearly 500,000 square meters.
The ambitious project aims to deliver 1.5 million square meters of new office, residential, retail, and hospitality space, enhancing the island’s blend of international business and luxury living while integrating commerce and community.
Enhancements to Abu Dhabi Global Market
This mixed-use development is poised to significantly bolster the Abu Dhabi Global Market (ADGM), an international financial center encompassing Al Maryah and Al Reem Islands.
ADGM has been recognized as one of the fastest-growing financial hubs worldwide, currently hosting more than 11,000 active licenses and nearly 40,000 individuals within its district. The expansion will add over 450,000 square meters of Grade A office space, effectively doubling the existing supply to accommodate the increasing demand from global institutions and financial professionals.
An influx of international investors and talent is leading to a rising demand for luxury residences on the island. High-end developments such as W and St. Regis are already in motion, with the upcoming expansion adding over 3,000 luxury waterfront residences to cater to this demand.
Broader Transformation of Al Maryah Island
The transformation of Al Maryah Island is part of a larger strategy to introduce innovative experiences, building on its existing integrated urban ecosystem. The Galleria, recognized as Abu Dhabi’s premier luxury shopping destination, along with Cleveland Clinic Abu Dhabi and an active sports hub, reinforces the area’s appeal.
The new venture will enhance the island by adding 40,000 square meters of experiential luxury retail, new dining options, and a world-class marina. Central to the next phase is the Al Maryah Waterfront enhancement project, which features a bay fountain capable of executing water shows reaching heights of 75 meters.
Introduction of New Facilities
The development will establish new leisure, dining, and event spaces along a reimagined coastline.
Among the notable additions is a new Convention Centre designed to host major global events, including Abu Dhabi Finance Week and various international exhibitions and business gatherings. As visitor numbers rise, demand for nearby accommodations is expected to increase accordingly.
The master plan encompasses new hospitality offerings which will complement existing luxury hotels, such as the Four Seasons and Rosewood Abu Dhabi.
Industry Leadership Statements
Dr. Bakheet Al Katheeri, CEO of UAE Investments Platform at Mubadala, emphasized the importance of the joint venture with Aldar, stating, “This landmark joint venture 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.”
He added, “By unlocking the full potential of this prime land bank, 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.”
Focus on ADGM Office Space
Talal Al Dhiyebi, Group CEO of Aldar, noted the significance of this expansion for Abu Dhabi’s growth as a global financial center, with ADGM at its core. He remarked, “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.”
Salem Al Darei, CEO of ADGM Authority, also spoke on the strategic importance of the expansion, saying, “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.”
Infrastructure Improvements
The master plan also incorporates significant connectivity enhancements, including 2.5 kilometers of air-conditioned pedestrian corridors, over 12,000 parking spaces, and a commitment to maintaining 20 percent open space in the financial district.
Additionally, three new bridges will link the northern side of Al Maryah Island to both Reem Island and the Abu Dhabi mainland, ensuring that Saadiyat Island is reachable within a 10-minute drive. Enabling works are slated to commence in 2026.
This joint venture, with Aldar holding 60 percent and Mubadala 40 percent, builds upon a collaborative history spanning over two decades. Both entities have successfully partnered on various projects, including Al Maryah Tower and One Maryah Place, reflecting their commitment to advancing Abu Dhabi’s real estate landscape.
The expansion signifies a progressive step in establishing Al Maryah Island as a pivotal business and lifestyle destination in Abu Dhabi.
Published on 1765387246 • Category: Real Estate, Abu Dhabi real estate, ADGM, Al Maryah Island, Aldar, Mubadala