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Aldar Properties and Mubadala Investment Company have finalized a strategic retail partnership in Abu Dhabi to create a world-class retail platform valued at approximately 10 billion dirhams. The Abu Dhabi retail partnership, announced on February 3, 2026, aims to consolidate premier shopping destinations under a unified strategic framework to enhance the emirate’s position as a global luxury retail hub.
Under the agreement, Aldar will manage and operate the new platform, which brings together key retail assets from both entities. The initial portfolio includes Yas Mall from Aldar and The Luxury Collection at The Galleria from Mubadala, creating a leading retail investment portfolio designed to drive the next phase of Abu Dhabi’s retail sector evolution.
Strong Occupancy Rates Support Abu Dhabi Retail Partnership
The platform demonstrates robust financial performance with stable cash flows and high occupancy rates, according to the companies. Yas Mall maintains a 99% occupancy rate while The Luxury Collection at The Galleria operates at 92% occupancy, reflecting the strength of these retail assets in attracting tenants and shoppers alike.
These metrics underscore the solid foundation upon which the partnership is built. The strong occupancy levels provide sustainable income streams that will support the platform’s expansion and operational initiatives across Abu Dhabi’s retail landscape.
Integration with Al Maryah Island Expansion
The retail collaboration directly complements the recently announced expansion plan for Al Maryah Island, valued at over 60 billion dirhams. This comprehensive development strategy positions the island as Abu Dhabi’s premier destination for business and modern lifestyle experiences, according to the partners.
The synergy between the retail platform and the broader Al Maryah Island expansion creates opportunities for integrated development. Additionally, the partnership leverages existing infrastructure and growing demand from international businesses and residents to maximize the island’s potential.
Leadership Perspectives on Retail Transformation
Talal Al Dhiyebi, Chief Executive Officer of Aldar, emphasized that the initiative represents a fundamental pillar for building a comprehensive future ecosystem for luxury retail in Abu Dhabi. He stated that unifying efforts with Mubadala and connecting the emirate’s premier shopping destinations under one platform managed by Aldar will launch a leading entity in the retail sector.
Dr. Bakhit Al Katheiri, Chief Executive Officer of UAE Investments at Mubadala, described the strategic partnership as a major milestone in the collaboration with Aldar. He noted that the partnership reflects Mubadala’s commitment to developing integrated destinations that anticipate future requirements while embodying the company’s pivotal role in building leading national companies across vital sectors.
Operational Synergies and Customer Engagement
The platform will generate significant added value through operational integration opportunities and enhanced returns, the companies indicated. A key initiative involves unifying the “Darna” digital loyalty program to include both The Luxury Collection at The Galleria and The Galleria Al Maryah Island.
This integrated loyalty program aims to enhance customer engagement and provide rewarding benefits for spending at these destinations. Meanwhile, the consolidation creates efficiencies in marketing and customer relationship management across the retail portfolio.
Broader Strategic Framework
The completion of this retail transaction marks an important milestone in implementing the broader strategic partnership announced by Aldar and Mubadala. The comprehensive collaboration encompasses a wide range of real estate asset classes beyond retail, establishing a framework for future joint ventures.
In contrast to individual asset management, the unified platform approach enables both companies to leverage their respective strengths in development, operations, and investment. This structure positions the partnership to respond more effectively to evolving market demands and international retail trends.
The partners have not disclosed specific timelines for future expansion phases or additional asset acquisitions under the platform, though the framework suggests ongoing development aligned with Abu Dhabi’s economic diversification objectives.
