Work has officially started on the ‘One Maryah Place’ project, a two-tower office complex located on Al Maryah Island in Abu Dhabi. The project is being co-developed by Aldar and Mubadala Investment Company. Once completed, it will offer 98,000 square meters of premium office space, further strengthening the position of Abu Dhabi Global Market (ADGM) as a key financial hub in the Middle East.
Jassem Saleh Busaibe, CEO of Aldar Investment, noted, “The demand for Grade A commercial space on Al Maryah Island continues to rise as more international blue-chip companies seek to establish their regional headquarters in ADGM.”
Over the past two years, Aldar and Mubadala have focused on expanding their office portfolio. In July 2022, Aldar acquired four office towers from Mubadala for over Dh4 billion. In December 2022, Aldar also purchased a stake in Al Maryah Tower, alongside Mubadala.
In September 2024, Aldar and Mubadala announced the extension of their long-standing strategic partnership, with a series of joint ventures aimed at owning and managing assets across Abu Dhabi, valued at over Dh30 billion.
This expansion is taking place amid a peak in demand for premium and super-premium office spaces in Abu Dhabi. Recently, Abu Dhabi Global Market (ADGM) acquired Al Reem Island, adding more office space to its portfolio.
The ‘One Maryah Place’ project will be part of Aldar’s Investment Properties portfolio, which is currently valued at Dh27 billion in income-generating real estate assets.
Khalifa Al Romaithi, Executive Director of UAE Real Estate and Infrastructure at Mubadala’s UAE Investments Platform, emphasized that the development aims to meet the growing demand for world-class office space from international companies. He added that both towers will be developed with sustainability in mind, with plans to achieve LEED Gold certification and an Estidama 3 Pearl rating.
