TARAF and Mubadala Partner to Explore New Mixed-Use Waterfront Development on Al Reem Island

A new Memorandum of Understanding (MoU) has been signed between TARAF, the real estate division of Yas Holding, and Mubadala Investment Company, an Abu Dhabi sovereign investor. The agreement focuses on exploring the development of a major mixed-use waterfront destination on Al Reem Island in Abu Dhabi.

The proposed masterplan for the development spans 10 plots across approximately 655,000 sq. Ft. of land, with a total gross floor area (GFA) estimated at 5.4 million sq. Ft. The project aims to integrate residential, commercial, retail, and food and beverage offerings into a cohesive masterplan, enhancing Al Reem Island's appeal and connectivity.

Focus on Livability and Connectivity

Central to TARAF’s proposed masterplan is a strong emphasis on livability and connectivity. The design includes landscaped pedestrian routes, public spaces, and plazas to connect various residential and commercial components. This approach is intended to improve access to the waterfront and foster a more walkable environment.

Ground-level retail, dining, and community amenities are planned to create an active public realm, encouraging interaction and engagement among residents, employees, and visitors. The development is envisioned to feature a range of residential options, from one- to four-bedroom apartments and penthouses, alongside dedicated public and commercial spaces.

Strategic Importance

Low Ping, Group CEO of Yas Holding, highlighted that the MoU is an opportunity to contribute to the continued evolution of Al Reem Island through an integrated development approach. Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, reinforced that the partnership supports Al Reem Island’s growth as a community-centric destination, combining residential, commercial, retail, and public spaces within a coordinated vision.

"Our ambition is to create long-term value through considered design, stronger connectivity and a high-quality public realm that enhances the experience of the wider community."

This collaboration underscores both companies' commitment to shaping Abu Dhabi's urban landscape, with TARAF bringing its design-led development approach and Mubadala using its investment expertise to create lasting value.