MoU Encompasses 10 Plots and 5.4 Million Sq Ft for Residential, Commercial, Retail and Dining Spaces.
Dubai: TARAF, the real estate division of Yas Holding, and Mubadala Investment Company have signed a Memorandum of Understanding (MoU) to explore the development of a major mixed-use waterfront project on Al Reem Island.
The proposed development would span 10 plots covering approximately 655,000 sq. ft. of land, with a total gross floor area of around 5.4 million sq. ft. Under the agreement, TARAF and Mubadala will evaluate the proposed plans and explore opportunities to advance the project.
The masterplan is expected to bring together residential, commercial, retail, and food and beverage offerings within an integrated waterfront community.
Residential options would include one- to four-bedroom apartments and penthouses, complemented by dedicated public and commercial spaces.
TARAF’s vision for the development places a strong emphasis on walkability and access to the waterfront. Landscaped pedestrian routes, plazas and public spaces are planned to connect the residential and commercial areas.
Ground-level retail outlets, restaurants and community amenities would further contribute to a vibrant and accessible public environment, creating spaces for residents, visitors and businesses.
The MoU was signed during LIVEX 2026 by Ali Eid AlMheiri, Executive Director of Diversified Assets at Mubadala’s UAE Investments Platform, and Low Ping, Group Chief Executive Officer of Yas Holding.
The signing was witnessed by Dr Bakheet Al Katheeri, CEO of Mubadala’s UAE Investments Platform, and Wissam El Dik, Chief Development Officer of TARAF Development.
Commenting on the agreement, Low Ping said Al Reem Island is already a well-established part of Abu Dhabi’s residential landscape, and the MoU provides an opportunity to support its continued development through a more integrated approach.
The proposed project is expected to build on the island’s existing appeal by bringing residential, commercial and lifestyle components together within a connected waterfront community.
Ali Eid AlMheiri said the coordinated vision for the development reflects Mubadala’s commitment to creating long-term value through strategic and well-planned investments.
