Object 1 Secures USD 1.23bn Waterfront Land Deal on Al Reem Island

Abu Dhabi, UAE: Object 1, an award-winning and rapidly growing real estate developer, has closed a major land investment in Abu Dhabi, marking a significant step forward in its expansion into the capital. The developer has acquired four waterfront plots on Al Reem Island, within the Shams Gate District, with a combined development area of over 2 million square feet and a total sales value of USD 1.23 billion (AED 4.5 billion).

Expansion Aligned With Abu Dhabi’s Long-Term Vision

The transaction marks a defining next step following Object 1’s expansion into Abu Dhabi in late 2025, which included the launch of its first Sales Gallery in the capital and its long-term growth plans for the emirate. Al Reem Island land acquisition reflects the company’s alignment with the government’s National Family Growth Agenda 2031. With 2026 designated as the Year of Family, the investment prioritises land positions suited to long-term residential communities, encouraging stability, community-led living, and environments that support families at different life stages.

Founder Highlights Long-Term Commitment to the Capital

Egor Maslennikov, Chairman and Founder of Object 1, said:

Our entry into Abu Dhabi was always intended as a long-term commitment, not a one-off expansion. Closing this investment on Al Reem Island reflects our confidence in the capital’s direction and our readiness to contribute meaningfully to its residential landscape. Abu Dhabi offers the right balance of stability, planning clarity, and community demand, which aligns closely with how we build.

Abu Dhabi Market Enters Accelerated Growth Phase

Abu Dhabi’s real estate market has entered a phase of accelerated growth, supported by rising buyer confidence and structural shifts in how the market is developing. Sales activity climbed sharply over the past year, with transactions increasing by 76% and total deal values more than doubling to USD 6.89 billion (AED 25.3 billion), reinforcing the capital’s appeal as a stable, high-growth destination for long-term residential investment.

Object 1 Strengthens UAE Growth Strategy

Against this backdrop, the capital now stands as a core pillar of Object 1’s UAE strategy, building on the company’s momentum after delivering more than 2,600 homes and establishing a development pipeline exceeding 4.5 million square feet in Dubai. The Al Reem Island commitment positions the developer as an active participant in Abu Dhabi’s next phase of growth, translating its Dubai momentum into lasting impact in the capital.