TARAF Mubadala Plan Major Waterfront Development on Al Reem

TARAF and Mubadala sign an MoU to explore a mixed-use waterfront development on Al Reem Island spanning 10 plots and 5.4 million sq ft of gross floor area.

TARAF, the real estate division of UAE-based Yas Holding, and Mubadala Investment Company sign a Memorandum of Understanding (MoU) to explore the development of a major mixed-use waterfront destination on Al Reem Island in Abu Dhabi. The proposed masterplan spans 10 plots across approximately 655,000 sq ft of land and has a planned gross floor area of around 5.4 million sq ft.

The proposed development brings together residential, commercial, retail, food and beverage and community spaces within an integrated masterplan. The project is planned to strengthen connectivity between its various components while improving access to the waterfront and creating a more walkable environment for residents, employees and visitors.

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The residential component is proposed to include one- to four-bedroom apartments and penthouses, alongside dedicated public and commercial spaces. Retail outlets, restaurants, cafés and other community amenities are planned at ground level, creating an active public realm and supporting activity throughout the day.

A key element of TARAF's proposed masterplan is the integration of landscaped pedestrian routes, public spaces and plazas. These areas are designed to connect residential and commercial components, improve access to the waterfront and provide spaces for community interaction.

Low Ping, Group Chief Executive Officer, Yas Holding, says the MoU provides an opportunity to contribute to the continued development of Al Reem Island through an integrated approach to planning and development. The company aims to focus on design, connectivity and public spaces as part of its proposed destination-scale development.

Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform, Mubadala, says the partnership reflects a shared objective of supporting Al Reem Island's development as a residential and economic waterfront district. Mubadala indicates that integrating residential, commercial, retail and public spaces within a coordinated vision forms part of its approach to creating long-term value.

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The MoU is signed during LIVEX 2026 in Abu Dhabi by representatives from TARAF and Mubadala. The agreement establishes a framework for the two companies to assess and progress the proposed development. As the project remains at the exploration and planning stage, the final development scope and delivery plans may be subject to further evaluation and approvals.