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Abu Dhabi's Aldar, Mubadala form $2.7bln luxury retail joint venture

Abu Dhabi's Aldar, Mubadala form $2.7bln luxury retail joint venture

Abu Dhabi's Aldar, Mubadala form $2.7bln luxury retail joint venture

Feb 04, 2026

Aldar and Mubadala Investment Company have completed a strategic joint venture to create a premier retail platform anchored by two of Abu Dhabi’s flagship assets, Yas Mall and The Galleria Luxury Collection, with a combined gross asset value of about AED 10 billion ($2.72 billion).

Managed by the emirate’s largest developer, Aldar, the new platform brings together income‑generating retail destinations with strong occupancy levels. Aldar has contributed Yas Mall, while the sovereign investor, Mubadala, has added The Galleria Luxury Collection, forming a consolidated portfolio of prime assets valued at 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 AED 60 billion expansion of Al Maryah Island, home to the Abu Dhabi Global Market (ADGM).

The move comes as Abu Dhabi’s sovereign wealth funds, which manage over $1.8 trillion in assets,  lead efforts to position the capital as a major global financial hub.