Aldar and Mubadala Investment Company have completed a strategic joint venture to establish a large-scale retail platform to support Abu Dhabi’s development as a global destination for luxury retail. Moreover, the platform consolidates two of the emirate’s flagship assets under a single operating structure.
Flagship assets and portfolio strength
Under the transaction, Aldar contributed Yas Mall, while Mubadala added The Galleria Luxury Collection. As a result, the platform brings together prime income-generating assets with a combined gross asset value of about AED10 billion. Additionally, occupancy levels remain strong, with Yas Mall at 99 percent and The Galleria Luxury Collection at 92 percent, supporting stable and predictable cash flows.
Strategic alignment and growth ambitions
The joint venture deepens the long-term partnership between the two shareholders and, moreover, complements the recently announced AED60 billion-plus expansion of Al Maryah Island. Therefore, the platform aligns with broader plans to enhance the island’s role as a business and lifestyle hub.
Talal Al Dhiyebi said, “This milestone marks the foundation of Abu Dhabi’s future luxury retail ecosystem, which will be underpinned by the creation of elevated and signature customer experiences.”
Dr. Bakheet Al Katheeri stated, “This retail joint venture marks a significant milestone in our strategic partnership with Aldar and reinforces Mubadala’s commitment to cultivating competitive, future-ready destinations.”
Operational synergies and value creation
Under Aldar’s management, the platform is expected to unlock operational and revenue synergies. Additionally, the Darna digital loyalty programme has already been deployed across assets, enhancing customer engagement. As a result, the transaction represents another step in expanding collaboration across multiple real estate classes.
