TARAF and Mubadala to Develop Landmark Mixed-Use Waterfront Destination on Al Reem Island
The two entities have signed a Memorandum of Understanding to create an integrated residential and commercial hub spanning 655,000 square feet across ten plots on Abu Dhabi's prestigious island district.
TARAF, the real estate division of Yas Holding, and Mubadala Investment Company have entered into a strategic partnership to develop a transformative mixed-use waterfront destination on Al Reem Island. The Memorandum of Understanding signals a significant commitment to advancing one of Abu Dhabi’s most sought-after residential and commercial precincts.
The proposed development encompasses ten plots across approximately 655,000 square feet, with a total gross floor area reaching approximately 5.4 million square feet. This substantial undertaking promises to bring together residential apartments, commercial spaces, retail establishments and food and beverage venues within a cohesively planned masterplan.
Central to TARAF’s vision is the creation of a vibrant, connected community prioritising livability and accessibility. The masterplan incorporates thoughtfully designed pedestrian routes, landscaped public spaces and vibrant plazas that seamlessly link residential and commercial elements whilst strengthening connections to the waterfront. Ground-level activations featuring retail outlets, dining establishments and community facilities will foster an animated public realm where residents, employees and visitors can gather and engage.
The development will feature a diverse residential offering ranging from one- to four-bedroom apartments and penthouses, alongside dedicated public spaces and an integrated retail and food and beverage portfolio. This comprehensive approach reflects a contemporary understanding of urban living that prioritises both private comfort and shared community experiences.
Low Ping, Group Chief Executive Officer of Yas Holding, emphasised the strategic significance of the initiative: “Al Reem Island is an established part of Abu Dhabi’s residential landscape, and this MoU represents an opportunity to contribute to its continued evolution through a more integrated approach to development.”
Ali Eid AlMheiri, Executive Director of Diversified Assets at Mubadala’s UAE Investments Platform, underscored the partnership’s broader vision: “Al Reem Island is a key residential and economic waterfront district and continues to contribute to Abu Dhabi’s urban growth. By combining residential, commercial, retail and public spaces within one coordinated vision, we aim to reinforce Mubadala’s commitment to creating lasting value.”
The agreement was formalised during LIVEX 2026 and witnessed by Dr. Bakheet Al Katheeri, Chief Executive Officer of Mubadala’s UAE Investments platform, and Wissam El Dik, Chief Development Officer of Taraf Development.
Source: WAM