Al Dar and Mubadala Investment Company have completed a strategic joint venture to create a premier retail platform anchored by Abu Dhabi’s two flagship assets, Yas Mall and The Galleria Luxury Collection, with a combined total asset value of approximately Dh10 billion ($2.72 billion).
Managed by Aldar, the emirate’s largest developer, the new platform brings together high-occupancy, income-generating retail destinations. Aldar invested in Yas Mall and sovereign investor Mubadala added The Galleria Luxury Collection, creating a consolidated portfolio of prime assets worth approximately AED 10 billion.
The partnership supports Abu Dhabi’s ambitions to expand its position as a global luxury retail hub and aligns with the AED60 billion expansion of Al Maryah Island, home of the Abu Dhabi Global Market (ADGM).
The move comes as Abu Dhabi’s sovereign wealth fund, which manages more than $1.8 trillion in assets, is leading efforts to position the capital as a major global financial hub.
(Writing: Brinda Darasha; Editing: Sevan Scalia)
brinda.darasha@lseg.com
