Abu Dhabi, UAE - TARAF and Mubadala Investment Company have signed a Memorandum of Understanding to explore a major mixed-use waterfront development on Al Reem Island in Abu Dhabi.
The proposed masterplan spans 10 plots across approximately 655,000 sq ft of land, with a total gross floor area of around 5.4 million sq ft.
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.
It was signed during LIVEX 2026 by Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, and Low Ping, Group Chief Executive Officer of Yas Holding.
Mixed-use waterfront masterplan
Under the MoU, TARAF and Mubadala will assess and progress plans for a development combining residential, commercial, retail and food and beverage uses.
The masterplan is expected to focus on connectivity, public spaces and access to the waterfront, with landscaped pedestrian routes and plazas connecting its residential and commercial elements.
Retail, dining and community amenities are planned at ground level to support a more active and walkable public realm.
TARAF's proposed masterplan would comprise a series of connected waterfront plots with one- to four-bedroom apartments and penthouses, alongside public and commercial spaces and an integrated retail and F&B offering.
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. "
