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 $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 500,000sq m.
It will deliver 1.5 million square metres 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.
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 450,000sq m 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. The new expansion will add more than 3,000 luxury waterfront residences to support ongoing population and investment growth.
