TARAF Signs MoU with Mubadala to Explore Major Mixed-Use Waterfront Development on Al Reem Island

• MoU establishes a framework to explore a major mixed-use waterfront development on Al Reem Island
• Proposed masterplan spans 10 plots and approximately 5.4 million sq. ft. of GFA
• Development to focus on connectivity, livability and the public realm, supporting the continued evolution of Al Reem Island

Abu Dhabi, UAE – 30 September 2026: TARAF, the real estate division of UAE-headquartered investment holding group Yas Holding, and Mubadala Investment Company (“Mubadala”), an Abu Dhabi sovereign investor, have signed a Memorandum of Understanding (MoU) to explore the development of a major mixed-use waterfront destination on Al Reem Island.

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

Under the MoU, TARAF and Mubadala will assess and progress the proposed development, which spans 10 plots across approximately 655,000 sq. ft. of land, with a total gross floor area of approximately 5.4 million sq. ft.

The proposed development would bring together residential, commercial, retail and food and beverage offerings within an integrated masterplan, adding a new dimension to Al Reem Island and creating a more connected experience for residents, employees and visitors.

Central to TARAF’s proposed masterplan is a focus on livability and connectivity. Landscaped pedestrian routes, public spaces and plazas would connect the residential and commercial components, strengthen access to the waterfront and create a more cohesive, walkable environment. At ground level, retail, dining and community amenities would contribute to an active public realm and create places for people to meet, interact and spend time.

Low Ping, Group CEO of Yas Holding, 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.”

“Our ambition is to create long-term value through considered design, stronger connectivity and a high-quality public realm that enhances the experience of the wider community. For TARAF, this is also an important opportunity to apply our design-led approach at a destination scale, creating places that are not only well designed, but enhances people’s quality of life.”

TARAF’s proposed masterplan would comprise a series of connected waterfront plots, offering a range of one- to four-bedroom apartments and penthouses, alongside dedicated public and commercial spaces and an integrated retail and F&B offering.

Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, said: “Our role as investment partner in this MoU with TARAF reflects a shared ambition to support Al Reem Island’s growth as a destination centred on livability and community. 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.”

About TARAF

TARAF is a boutique property developer based in the UAE and the real estate division of Yas Holding.

With a growing portfolio across Abu Dhabi and Dubai, TARAF takes a design-led approach to development, with a focus on creating high-quality residences and communities shaped around livability, lifestyle and a strong sense of place.

TARAF’s portfolio spans residential communities, waterfront developments and branded residences, including collaborations with internationally recognised hospitality and lifestyle brands.

About Mubadala Investment Company

Mubadala Investment Company is a sovereign investor managing a global portfolio aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s US$385 billion (AED 1,414 billion) portfolio spans six continents, with interests across multiple sectors and asset classes. Mubadala leverages its deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

For more information about Mubadala Investment Company, please visit mubadala.com.