TARAF, the real estate division of Yas Holding, has partnered with Abu Dhabi sovereign investor Mubadala Investment Company to explore a new waterfront development on Al Reem Island. Announced on September 30, 2026, during LIVEX 2026, the Memorandum of Understanding (MoU) establishes a cooperative framework to assess and advance the proposed masterplan.

The proposed scheme covers 10 connected waterfront plots across roughly 655,000 square feet of land, representing a total gross floor area of approximately 5.4 million square feet. The masterplan combines residential, commercial, retail, and food and beverage spaces. Residential offerings within the concept include apartments ranging from one to four bedrooms alongside penthouses, complemented by public areas and dedicated office accommodation. Ground-level retail, dining, and community facilities are designed to support an active public realm.

Central to the project design is a focus on livability, pedestrian access, and community interaction. Public spaces, plazas, and landscaped walkways will link the commercial and residential sections while improving direct access to the waterfront environment.

The MoU signing 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. The agreement was executed by Ali Eid AlMheiri, Executive Director of Diversified Assets at Mubadala’s UAE Investments Platform, and Low Ping, Group Chief Executive Officer of Yas Holding.

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. ”

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.”