Abu Dhabi powerhouses Aldar and Mubadala Investment Company have launched a new luxury retail platform, marking a major step in their strategic partnership. The joint venture combines two of the emirate’s premier shopping destinations—Yas Mall from Aldar and The Galleria Luxury Collection from Mubadala—into a unified, high-end retail offering with a combined gross asset value of AED 10 billion ($2.7 billion).
Aldar will manage the platform, leveraging its operational expertise across Abu Dhabi’s commercial landscape. Importantly, both assets deliver strong performance: Yas Mall runs at 99% occupancy, while The Galleria Luxury Collection maintains 92%. This stability provides a solid foundation for future growth and integration.
The move aligns closely with Mubadala’s Dh60 billion expansion of Al Maryah Island. That ambitious project aims to double the island’s footprint as Abu Dhabi’s leading business, finance, and lifestyle hub. By linking The Galleria—already a centerpiece of Al Maryah—with Yas Mall, the luxury retail platform creates a seamless experience across two key districts.
According to Aldar CEO Talal Al Dhiyebi, this partnership “lays the foundation for a more integrated luxury retail ecosystem in Abu Dhabi.” He emphasized that connecting major destinations under one operating model enhances customer convenience and brand appeal.
Similarly, Bakheet Al Katheeri, CEO of Mubadala’s UAE Investments Platform, said the venture supports the creation of nationally competitive assets. He noted that Al Maryah Island’s growing magnetism for global firms and affluent residents makes it an ideal anchor for premium retail.
One immediate benefit is operational synergy. Aldar’s Darna digital loyalty programme already operates at The Galleria and across Al Maryah Island. Now, customers can earn and redeem rewards seamlessly between locations—boosting engagement and repeat visits.
Moreover, shared marketing, tenant coordination, and data analytics will unlock new revenue opportunities. Instead of competing, the two malls now amplify each other’s strengths within a cohesive luxury strategy.
This deal also deepens the long-standing collaboration between Aldar and Mubadala across residential, commercial, and mixed-use real estate. It signals their shared commitment to elevating Abu Dhabi’s global standing as a destination for premium living and shopping.
In summary, the new luxury retail platform isn’t just about combining assets—it’s about redefining high-end retail in the capital. With strong occupancy, strategic location, and unified management, it sets a new benchmark for luxury experiences in the UAE.
