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TARAF and Mubadala Investment Company signed a memorandum of understanding on September 30 to assess opportunities for a landmark mixed-use waterfront destination on Al Reem Island that will integrate residential apartments with commercial retail and food and beverage outlets across an interconnected masterplan the companies said in a joint statement. The project covers 10 plots totaling roughly 655,000 square feet of land while the planned gross floor area reaches 5.4 million square feet according to details released during the LIVEX 2026 event. Senior leaders including Ali Eid AlMheiri of Mubadala and Low Ping of Yas Holding oversaw the formal signing which was witnessed by Dr. Bakheet Al Katheeri and Wissam El Dik. The initiative forms part of ongoing efforts to strengthen Al Reem Island as a vibrant waterfront district.
The proposed development would deliver one- to four-bedroom apartments alongside penthouses dedicated public areas and integrated commercial spaces designed to create a seamless experience for residents employees and visitors the statement noted. TARAF as the real estate division of Yas Holding will apply its track record in masterplanning while Mubadala contributes its expertise as a sovereign investor with extensive regional holdings. Feasibility assessments market analyses and conceptual designs will unfold over the coming months before any final commitments are made. Both parties emphasised alignment with Abu Dhabi’s urban development priorities that prioritise livability and economic contribution.
Al Reem Island accounted for 49 percent of Abu Dhabi’s off-plan apartment transactions during summer 2026 with 1,291 deals recorded out of 2,658 emirate-wide according to proprietary market analysis by real estate developer MERED.
Al Reem Island accounted for 49 percent of Abu Dhabi’s off-plan apartment transactions during summer 2026 with 1,291 deals recorded out of 2,658 emirate-wide according to proprietary market analysis by real estate developer MERED. The sales area on the island surged more than fourfold to 139,000 square metres from 34,000 square metres two years earlier while average transacted prices for off-plan apartments across Abu Dhabi climbed 28 percent to about $7,070 per square metre in the same period. Data published by the Abu Dhabi Real Estate Centre shows the island held approximately 27,500 residential units in the first half of 2026 and is projected to receive more than 13,500 additional units by 2030. These trends underscore the location’s rising appeal within the emirate’s investment zones.
In the statement Ali Eid AlMheiri Executive Director of Diversified Assets UAE Investments Platform at Mubadala said “Our role as investment partner in this MoU with TARAF reflects a shared ambition to support Al Reem Island’s growth as a destination centred on livability and community.” He added that Al Reem Island is a key residential and economic waterfront district and continues to contribute to Abu Dhabi’s urban growth. The executive noted that by combining residential commercial retail and public spaces within one coordinated vision the project would reinforce Mubadala’s commitment to creating lasting value.
TARAF has expanded its Abu Dhabi presence through projects such as W Residences on Al Maryah Island and a joint venture for a sustainable community in Masdar City the developer has previously announced. The company maintains a focus on delivering high-quality integrated developments that respond to market demand for premium lifestyle offerings. This agreement with Mubadala builds on TARAF’s strategy of partnering with leading institutions to accelerate delivery of large-scale masterplans across the UAE. Yas Holding the parent entity continues to diversify its portfolio beyond real estate into other growth sectors.
Abu Dhabi’s real estate market demonstrated resilience in the first half of 2026 with off-plan transactions comprising 82 percent of all residential deals and 89 percent of sales value according to the Abu Dhabi Real Estate Centre. Investment zones that include Al Reem Island represented more than 22 percent of the emirate’s total residential stock during that period. Repeat sales prices for apartments rose 20 percent year on year while Emirati buyers accounted for a significant share of transaction value. The waterfront emphasis in the TARAF Mubadala proposal aligns closely with these demand patterns and supply projections through 2030.
