TARAF, the real estate arm of Yas Holding, and Mubadala Investment Company have signed a memorandum of understanding to explore a large-scale mixed-use development on Al Reem Island in Abu Dhabi.
The proposed project spans 10 plots covering approximately 655,000 sq. ft. of land, with a total gross floor area of approximately 5.4 million sq. ft. If it proceeds, the development would bring together residential units ranging from one- to four-bedroom apartments and penthouses, alongside commercial, retail and food and beverage offerings within a single integrated masterplan.
The MoU was signed at LIVEX 2026 by Ali Eid AlMheiri, Executive Director of Diversified Assets at Mubadala’s UAE Investments Platform, and Low Ping, Group CEO of Yas Holding.
TARAF’s proposed masterplan puts walkability at its centre: landscaped pedestrian routes, public plazas and ground-level retail and dining are intended to connect the residential and commercial components and improve access to the waterfront.
“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. 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. For TARAF, this is also an important opportunity to apply our design-led approach at a destination scale, creating places that are not only well designed, but enhances people’s quality of life,” Low Ping, Group CEO of Yas Holding said in a statement.
TARAF’s proposed masterplan would comprise a series of connected waterfront plots, offering a range of one- to four-bedroom apartments and penthouses, alongside dedicated Public and commercial spaces and an integrated retail and F&B offering.
“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. 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,” Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala added.
The MoU covers the assessment and progression of the proposed development. No timeline or construction start date was disclosed.
