Mubadala, TARAF and Kerzner partner to develop One&Only Private Residences on Al Maryah Island
Mubadala Investment Company, TARAF, the real estate division of UAE-headquartered Yas Holding, and Kerzner International Holdings have announced a partnership to develop a new collection of One&Only Private Residences on Al Maryah Island in Abu Dhabi.
The agreement was announced during LIVEX 2026 and brings together Mubadala as master developer of Al Maryah Island, TARAF’s development expertise and Kerzner’s One&Only luxury hospitality and residential brand.
The agreement was witnessed by Dr. Bakheet Al Katheeri, Chief Executive Officer of Mubadala’s UAE Investments platform; Wissam El Dik, Chief Development Officer of TARAF Development; and Juan Aguilar, President of Real Estate at Kerzner International.
It was signed by Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala; Low Ping, Group Chief Executive Officer of Yas Holding; and Philippe Zuber, Chief Executive Officer of Kerzner International.
Tower to rise 44 floors on Al Maryah Island
The residential development will form part of the continued expansion of Al Maryah Island’s residential and lifestyle offering.
The tower is planned to rise approximately 230 metres across 44 floors, with its design intended to maximise views of the Arabian Gulf, surrounding canals and the Abu Dhabi skyline.
The architecture will use warm terracotta tones, champagne-coloured metals and glazing, with the materials selected to complement the island’s waterfront setting and the changing light across the city.
The development will also be directly connected to The Galleria, giving residents access to the shopping destination’s retail, dining and lifestyle facilities.
Residences to include one- to three-bedroom homes
The project will include residences ranging from one- to three-bedroom homes to larger duplexes and a penthouse.
According to the partners, the residences are being designed around privacy, space and day-to-day functionality, with One&Only’s residential standards incorporated into living, entertaining and service areas.
An elevated landscape and amenities area will sit at the centre of the development, bringing together gardens, terraces, wellness facilities and social spaces. The area is designed as an extension of the residential environment rather than a conventional amenities floor.
Partners combine development and hospitality expertise
Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, said the partnership reflects Mubadala’s approach to working with specialist partners as Al Maryah Island continues to develop.
He said the introduction of One&Only Private Residences would add another element to the island’s residential offering by combining its connectivity with the brand’s focus on privacy, design and service.
Low Ping, Group CEO of Yas Holding, said the partnership brings together Mubadala’s long-term development vision, TARAF’s design and development capabilities and Kerzner’s experience with One&Only destinations.
Juan Aguilar, President of Real Estate at Kerzner International, said the company viewed the partnership with Mubadala and TARAF as part of its continued expansion in the UAE and residential portfolio in the region.
The project is expected to contribute to the ongoing development of Al Maryah Island as a mixed-use destination combining residential, retail, hospitality and lifestyle offerings.
