Aldar Properties and Mubadala Investment Company, an Abu Dhabi sovereign investor, recently broke ground on One Maryah Place, a two-tower grade A commercial development on Al Maryah Island, Abu Dhabi’s leading business and lifestyle destination.
Located within Abu Dhabi Global Market (ADGM), the project will add additional high-quality commercial space to the ADGM freezone as demand continues to grow from global corporations and financial institutions.
“The demand for grade A commercial space on Al Maryah Island continues to rise as more and more international blue-chip companies look to establish their regional headquarters in ADGM, Abu Dhabi’s premium financial center,” stated Jassem Saleh Busaibe, CEO of Aldar Investment.
Upon completion, One Maryah Place will be incorporated into Aldar’s portfolio, which encompasses AED27 billion of income-generating real estate assets.
Advancing ADGM’s regional position
The Aldar Properties and Mubadala project will deliver approximately 98,000 square meters of grade-A office space across two connected towers. Therefore, it will add considerable weight to ADGM’s position as the region’s premium financial center. The towers, connected by an indoor walkway, will feature ground-floor retail units, a flagship rooftop dining venue, and a mosque. Moreover, they will include five levels of basement parking offering nearly 2,200 spaces.
One Maryah Place offers access to the central area of Al Maryah Island, in addition to indoor connectivity to Al Maryah Tower, The Galleria Al Maryah Island, and ADGM Square. Future tenants will also benefit from direct connections to Abu Dhabi City, Al Reem Island, and Saadiyat Island.
“Alongside Mubadala, we are developing One Maryah Place, which includes two premium office towers that are well located with large floor plans and fantastic amenities and will appeal to businesses looking to either enter Abu Dhabi for the first time or relocate to a new grade A space,” Busaibe added.
Read: Aldar, Expo City Dubai plan $480 million mixed-use development near Al Maktoum airport
Abu Dhabi’s robust commercial property market
Mubadala and Aldar are longstanding partners with a mutual commitment to Abu Dhabi’s growth. Building on Aldar’s initial acquisition of four grade-A office towers at ADGM in 2022, the partners jointly acquired Al Maryah Tower.
For his part, Khalifa Al Romaithi, executive director of UAE real estate and infrastructure at Mubadala’s UAE Investments Platform, said: “One Maryah Place reflects our joint commitment to investing in Abu Dhabi’s future as a global business and investment destination.”
This strategic partnership leverages Aldar’s deep market expertise, with an impressive 97 percent occupancy rate across its commercial portfolio. In addition, it highlights Mubadala’s commitment to driving sustainable economic development in the UAE.
The strong demand and high occupancy rates of commercial space reflect the robust performance of Abu Dhabi’s commercial property market. In addition, the stable regulatory environment alongside business- and investor-friendly policies in the UAE support that demand.
“We are confident that One Maryah Place will further elevate Al Maryah Island’s position as a leading business and lifestyle destination,” he added.
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