Abu Dhabi: TARAF, the real-estate arm of Yas Holding, and Abu Dhabi sovereign investor Mubadala have signed a Memorandum of Understanding to explore a major mixed-use waterfront development on Al Reem Island. The proposed masterplan would cover 10 plots across about 655,000 sq ft of land, with approximately 5.4 million sq ft of gross floor area. Mubadala Investment Company
The concept brings together residential, commercial, retail and dining spaces, with planned landscaped pedestrian routes, plazas and improved access to the waterfront. Proposed homes include one- to four-bedroom apartments and penthouses. Mubadala Investment Company
Importantly, this is not yet a launched construction project. The agreement only establishes a framework for TARAF and Mubadala to study and progress the proposal. No final project cost, construction start, completion date or detailed delivery schedule has been announced.
