United Arab Emirates: Leading sovereign investor Mubadala and master-developer Aldar have launched a landmark joint venture to expand Al Maryah Island, thus unlocking the next phase of growth in the international financial district and further enhancing the Abu Dhabi’s global position as the 'Capital of Capital.'

With a gross development value exceeding AED60 billion ($16.3 billion), the north side of Al Maryah Island holds the final undeveloped bank of land, which spans almost 500,000 sqm.

The project will comprise 1.5 million sqm of new office, residential, retail, and hospitality space - seamlessly 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.

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.

As per the deal, 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 duo said 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 upon the island’s fully integrated urban ecosystem, they added.

Dr Bakheet Al Katheeri, the Chief Executive Officer of UAE Investments Platform at Mubadala, said: "This landmark 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," he added.

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 40,000 sqm 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 striking bay fountain with water shows soaring up to 75m high.

This new centrepiece will anchor a reimagined coastline, adding vibrant dining, leisure, and event spaces that complement the island’s existing energy and appeal.

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.

Aldar Group CEO Talal Al Dhiyebi 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," he added.

Salem Al Darei, the 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," stated Al Darei.

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% 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% by Aldar and 40% by Mubadala - builds on a strategic partnership spanning more than two decades between the two entities.

Most recently, Mubadala and Aldar entered into 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.