TARAF and Mubadala to explore mixed-use waterfront development on Al Reem Island

Dubai: TARAF, the real estate division of Yas Holding, and Mubadala Investment Company have signed a Memorandum of Understanding to explore a major mixed-use waterfront development on Al Reem Island.

The proposed project spans 10 plots across about 655,000 sq. ft. of land, with a total gross floor area of roughly 5.4 million sq. ft. Under the MoU, the two parties will assess the plans and take the development forward.

The masterplan would combine residential, commercial, retail and food and beverage space. Residential offerings would range from one- to four-bedroom apartments and penthouses, alongside dedicated public and commercial areas.

TARAF's plan centres on walkability and waterfront access. Landscaped pedestrian routes, public spaces and plazas would link the residential and commercial components, while ground-level retail, dining and community amenities would support an active public realm.

The MoU was signed during LIVEX 2026 by Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, and Low Ping, Group Chief Executive Officer of Yas Holding. It was witnessed by Dr. Bakheet Al Katheeri, CEO of Mubadala's UAE Investments platform, and Wissam El Dik, Chief Development Officer of Taraf Development.

Speaking on the latest development and the MoU, Low Ping, CEO of Yas Holdings said, “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, Diversified Assets, UAE Investments Platform at Mubadala said the coordinated vision reflects Mubadala's commitment to creating lasting value.