Mubadala and Aldar have partnered to establish a series of joint ventures to own and manage prime residential, commercial, retail, and logistics assets across Abu Dhabi, with a combined value exceeding Dh30 billion. The partnership, which leverages Mubadala’s land bank and institutional expertise and Aldar’s development and asset management capabilities, will be structured with Aldar holding a 60% stake and Mubadala 40%.
The four joint ventures will focus on several key areas:
- Creating a retail platform to consolidate premium shopping destinations in the emirate.
- Acquiring sustainable, income-generating residential and commercial assets in Masdar City.
- Developing strategically located islands near Saadiyat and Yas Islands.
- Establishing a logistics park close to Zayed International Airport.
As part of the partnership, Mubadala and Aldar will create a Dh9 billion retail platform to manage Abu Dhabi’s leading retail destinations. Aldar will contribute to Yas Mall, while Mubadala will add The Galleria Luxury Collection at Abu Dhabi Global Market on Al Maryah Island. This platform aims to drive synergies by unifying retail strategies and attracting new luxury brands to the capital.
The two companies plan to form a joint venture to own Dh3 billion worth of income-generating real estate assets in Masdar City, a sustainable urban community. The portfolio will include existing commercial and residential properties with over 400,000 square metres of net leasable area (NLA) and an occupancy rate of more than 95%. The joint venture will incorporate 14 assets within the Masdar City Green REIT, all of which hold LEED Gold or Platinum certifications and three more properties in the master plan. Two additional assets, totalling 50,000 square metres of NLA, are expected to join the portfolio upon completion.
Mubadala’s prime land portfolio will also be utilised to masterplan and develop wellness-focused luxury waterfront communities on two undeveloped islands off the coasts of Saadiyat and Yas Islands. The gross development value of these projects is estimated at Dh13 billion. One island, located between Saadiyat Marina and Reem Island with a three-kilometre waterfront, will complement Aldar’s luxury offerings in the Saadiyat Cultural District. The second island will be developed into a premium waterfront villa community, covering 3.7 million square metres between Yas Island and Al Raha.
Lastly, Mubadala and Aldar are planning to develop a Dh5 billion Grade A industrial logistics park in Al Falah, with a gross floor area of 1.2 million square metres. The park will be strategically located within a two-kilometre radius of Zayed International Airport and will have access to several major highways.
