Abu Dhabi firms Mubadala Investment Company and Aldar have announced a landmark joint venture to expand Al Maryah Island, unlocking the next phase of growth for the international financial district and reinforcing the capital’s global position as the “Capital of Capital.”
The development holds a gross value exceeding AED60bn ($16.34bn) and represents the largest expansion undertaken on the island to date.
The project covers the final undeveloped plot on the north side of Al Maryah Island, spanning almost 500,000sqm.
It will deliver 1.5 million sqm of new office, residential, retail and hospitality space, integrating commerce, community and lifestyle while further strengthening the island’s blend of international business and luxury living.
Al Maryah Island in Abu Dhabi
The mixed-use development will significantly enhance Abu Dhabi Global Market (ADGM), the international financial centre whose jurisdiction covers Al Maryah and Al Reem Islands.
ADGM is among the fastest-growing financial hubs globally, with more than 11,000 active licences and almost 40,000 individuals based in the district.
The expansion will add more than 450,000sqm of Grade A office space — doubling current supply — to meet surging demand from global institutions, investors and financial professionals.
Due to strong inflows of international investors and talent, luxury residential demand on the island continues to rise, with branded homes such as W and St. Regis currently under development.
Al Maryah Island’s broader transformation will introduce new experiences that build on its already fully integrated urban ecosystem. Anchored by The Galleria — the capital’s premier luxury shopping destination — Cleveland Clinic Abu Dhabi, ACTIVE sports hub and the UAE’s most Michelin Guide-awarded dining location, the island will add 40,000sqm of experiential luxury retail, new dining options and a world-class marina.
Central to the next phase is the Al Maryah Waterfront enhancement project, featuring a bay fountain capable of water shows reaching 75m high.
New facilities
The development will create new leisure, dining and event spaces along a reimagined coastline.
The expansion will also include Abu Dhabi’s new Convention Centre, creating a platform for major global events including Abu Dhabi Finance Week and other international exhibitions and business gatherings. As visitor numbers grow, hotel demand will rise in parallel.
The masterplan includes new hospitality offerings, complementing existing luxury hotels such as the Four Seasons and Rosewood Abu Dhabi.
Dr Bakheet Al Katheeri, CEO 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.”
ADGM office space
Talal Al Dhiyebi, Group CEO 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, CEO 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.”
Connectivity improvements form a core part of the masterplan, including 2.5km of air-conditioned pedestrian corridors, more than 12,000 parking spaces and 20 per cent open space in the heart of the financial district.
Updated infrastructure
Three new bridges will link the north side of Al Maryah Island to Reem Island and Abu Dhabi mainland, ensuring Saadiyat Island is less than a 10-minute drive. Enabling works will commence in 2026.
The joint venture — owned 60 per cent by Aldar and 40 per cent by Mubadala — builds on a longstanding partnership spanning more than two decades.
The two entities have collaborated across commercial, retail, residential and logistics projects, including Al Maryah Tower, One Maryah Place and a retail joint venture nearing completion that will operate Abu Dhabi’s leading malls: The Galleria Al Maryah Island, Yas Mall and the upcoming Saadiyat Grove Mall.
The expansion marks the next chapter in shaping Al Maryah Island as one of Abu Dhabi’s most important business and lifestyle destinations.