Aldar & Mubadala unite to develop commercial assets on Al Maryah Island

Aldar & Mubadala unite to develop commercial assets on Al Maryah Island

Aldar Properties and Mubadala Investment Company have signed heads of terms to develop commercial assets on Abu Dhabi’s premier lifestyle and business destination, Al Maryah Island.

According to the statement, it will be located within the capital’s award-winning international financial center and freezone, Abu Dhabi Global Market (ADGM).

Building on a successful and collaborative partnership, the joint venture once finalized will contribute to ADGM’s thriving ecosystem, providing capacity for more businesses to operate from Al Maryah Island.

“It follows Aldar’s acquisition of the four commercial towers at ADGM from Mubadala and a subsequent deal between the two parties to partner in the acquisition of Al Maryah Tower, both of which were completed in 2022,” as per the statement.

Jassem Saleh Busaibe

CEO – Aldar Investment “Through our ongoing management and successful leasing program of the four ADGM office towers, we continue to see considerable demand for Grade A office space on Al Maryah Island. Through a phased approach, the joint venture will continue to increase the supply of prime office space on the island to ensure the ADGM freezone grows from strength to strength as a financial center of global significance. The first project enables us to take the necessary steps to satisfy the current