1 October 2026
TARAF, the real estate division of UAE investment group Yas Holding, and Mubadala Investment Company have signed a memorandum of understanding to explore a mixed-use waterfront development on Al Reem Island in Abu Dhabi. The proposal covers 10 connected plots with about 61,000 sqm (655,000 sq ft) of land and about 500,000 sqm (5.4 million sq ft) of gross floor area: apartments with one to four bedrooms, penthouses, commercial and public space, shops, restaurants and cafes. The MoU was signed at LIVEX 2026 and reported by the Emirates News Agency (WAM) on 1 October 2026. No investment value, timetable, unit count or launch date has been disclosed.
What TARAF and Mubadala signed
The memorandum was signed by Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, and Low Ping, Group Chief Executive Officer of Yas Holding. Dr. Bakheet Al Katheeri, Chief Executive Officer of Mubadala’s UAE Investments platform, and Wissam El Dik, Chief Development Officer of Taraf Development, witnessed the signing at LIVEX 2026, the Liveability and Investment Exhibition held at ADNEC Centre Abu Dhabi from 29 September to 1 October 2026.
Under the MoU the two partners will assess and progress the proposed development. The masterplan was prepared by TARAF, and Mubadala describes its own role as that of investment partner. The companies issued the announcement on 30 September, during the exhibition, and WAM carried it in Arabic and English on the morning of 1 October.
A memorandum of this kind sets a framework for studying a project. It is not a construction contract and not a sales launch. The announcement does not give the investment value, the construction schedule, the number of homes, prices or the exact location of the plots on the island.
| Item | Detail |
|---|---|
| Partners | TARAF, the real estate division of Yas Holding, and Mubadala Investment Company |
| Agreement | memorandum of understanding to assess and progress the project |
| Plots | 10 connected waterfront plots on Al Reem Island |
| Land | about 61,000 sqm (655,000 sq ft) |
| Gross floor area | about 500,000 sqm (5.4 million sq ft) |
| Homes | apartments with one to four bedrooms and penthouses |
| Other uses | commercial and public space, retail, restaurants and cafes |
| Signed at | LIVEX 2026, ADNEC Centre Abu Dhabi |
| Investment, schedule, units, prices | not disclosed |
What the masterplan proposes
TARAF’s proposed masterplan is built around liveability and connectivity. Landscaped pedestrian routes, public spaces and plazas would connect the residential and commercial parts, open up access to the waterfront and make the district easier to walk. At ground level, shops, restaurants, cafes and community facilities would face the public spaces.
The two headline figures also describe the format. By our calculation, about 500,000 sqm of floor area on about 61,000 sqm of land is roughly 8.2 sqm of building for every square metre of plot, a high-rise density that matches the apartments and penthouses in the plan. For comparison, the three Yas Island plots that Arada bought from Aldar, announced on 30 September, allow about 4.7 sqm of floor area per square metre of land, as we noted in our report on the AED 15 billion Aldar and Arada partnership.
Low Ping 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 said: “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.”
Who the partners are
TARAF describes itself as a boutique, design-led developer and is the real estate division of Yas Holding, a UAE investment company with businesses in healthcare, aviation, technology, real estate and ventures. The group was founded as Emirates Advanced Investments and later created Taraf Development to expand into property. According to Yas Holding, TARAF launched in January 2023 and focuses on the luxury segment in Dubai and Abu Dhabi.
Its Abu Dhabi projects include W Residences Abu Dhabi on Al Maryah Island, the first W Hotels branded residences in the capital, developed with Marriott International. Work on site began in December 2024, and the groundbreaking was announced in January 2025. Low Ping called the new MoU an opportunity for TARAF to apply its design-led approach “at a destination scale”.
Mubadala is the sovereign investor that manages a global portfolio for the Government of Abu Dhabi. In the announcement it puts that portfolio at USD 385 billion (AED 1,414 billion) across six continents. Mubadala signed the MoU through the Diversified Assets unit of its UAE Investments platform.
Al Reem Island today
Al Reem Island, next to Al Maryah Island, is the largest of Abu Dhabi’s investment zones, the districts where foreign nationals can own property. The Abu Dhabi Real Estate Centre (ADREC) counts about 27,500 residential units on the island, out of about 72,000 across all investment zones, as covered in our report on Hudayriyat Island topping the Abu Dhabi property market.
The island is also the most active apartment market in the emirate. In the first half of 2026 it recorded 4,471 apartment transactions, more than any other district, with apartment prices up 17.3% and apartment rents up 13.1% year on year, according to the consultancy Cavendish Maxwell.
Since 24 April 2023, under UAE Cabinet Resolution No. 41 of 2023, Al Reem Island has been part of Abu Dhabi Global Market (ADGM). The financial centre now covers Al Maryah and Al Reem islands, 14.38 million sqm in total, with English common law applied directly. The workforce on the two islands reached 49,027 people at the end of June 2026, up 34% year on year, as reported in our review of ADGM’s first half results.
New projects keep arriving. In December 2025 Royal Development Holding announced Radisson Residences Al Reem Island, an AED 1.2 billion waterfront development, and in March 2026 Modon launched its Tara Park residential project in the centre of the island, WAM reported. At LIVEX, the Department of Municipalities and Transport said Abu Dhabi is working with the private sector to activate waterfronts, public spaces and multi-use destinations, as described in our overview of LIVEX 2026.
What it means for buyers and companies
The MoU changes nothing in procedure today, and there is nothing to reserve yet. The practical points are about preparation:
- Prices, payment plans and unit numbers will only be known at a launch. Off-plan releases in Abu Dhabi can open within days of an announcement: Aldar’s September villa launches opened for sale six to eight days after they were announced, so funds, documents and any company structure need to be ready in advance.
- Al Reem Island is an investment zone, so foreign buyers, residents and non-residents alike, can own property there. Mortgage terms differ between the two groups, as our guide to mortgages in the UAE for residents and non-residents explains.
- A property purchase of AED 2 million or more is the entry point for the ten-year UAE Golden Visa. Eligibility is confirmed by the authorities on each application.
- The shops, restaurants and commercial space in the plan would be inside ADGM. Since 1 November 2023 any business setting up on Al Reem Island applies to ADGM for its commercial licence, and licences of the Abu Dhabi Department of Economic Development (ADDED) have not been valid on the island since 31 December 2024.
- Since 1 January 2025 ADGM charges USD 2,500 for initial registration and USD 2,000 a year for renewal in its retail category, and USD 5,500 and USD 5,000 in its non-financial category.
How Atlant Capital can help
We work on the corporate side of property and business decisions, not on brokerage. When a buyer plans to hold a home on Al Reem Island through a UAE structure, the company has to be registered and bankable before a launch, and that sequence is where timelines usually slip. We handle company formation in the UAE with activities suited to holding and leasing property, and we run corporate bank account opening so that funds can move when a release opens.
For operators who plan a shop, restaurant or office on the island, we compare the ADGM licence with mainland and free zone options for the same activity and budget. Where a purchase is meant to support residency, we align it with residence visas and the Golden Visa.
Bottom line
TARAF and Mubadala have agreed to study a 10-plot mixed-use waterfront project on Al Reem Island with about 500,000 sqm of floor area, apartments with one to four bedrooms, penthouses, retail, restaurants and public space. The MoU is an early step: the investment, schedule, number of homes and prices are still to be announced. The island it targets is already Abu Dhabi’s largest investment zone by number of homes and part of the ADGM jurisdiction.
Source: WAM, WAM (Arabic).
FAQ
What did TARAF and Mubadala agree on Al Reem Island?
TARAF, the real estate division of Yas Holding, and Mubadala Investment Company signed a memorandum of understanding at LIVEX 2026 to assess and progress a mixed-use waterfront development on Al Reem Island in Abu Dhabi. WAM reported the agreement on 1 October 2026. The MoU sets a framework for studying the project and is not a sales launch.
How big is the proposed Al Reem Island waterfront project?
The proposal covers 10 connected plots with about 655,000 sq ft (about 61,000 sqm) of land and about 5.4 million sq ft (about 500,000 sqm) of gross floor area. It combines apartments with one to four bedrooms and penthouses with commercial and public space, shops, restaurants and cafes.
When will the project launch and how much will it cost?
This has not been announced. The announcement gives no investment value, construction schedule, number of homes, prices or launch date, and none of these figures has been published yet.
Can foreigners buy property on Al Reem Island?
Yes. Al Reem Island is an investment zone where foreign nationals, both residents and non-residents, can own property. ADREC counts about 27,500 residential units on the island, the most of any investment zone in Abu Dhabi. Businesses on the island are licensed by ADGM, whose jurisdiction has covered Al Reem Island since April 2023.
