Construction has begun on the ultra-premium, two-tower ‘One Maryah Place’ office complex in Abu Dhabi.
This landmark new development will be developed in the epicentre of the Abu Dhabi Global Market (ADGM) which is seeing phenomenal success in attracting companies to establish themselves in the Abu Dhabi Financial Centre. This occurs at a time when premier office space is in high demand, with Abu Dhabi leading the way.
Construction has begun on the first of Abu Dhabi’s upcoming series of Grade office towers known as “One Maryah Place” and is a two-tower building located on Al Maryah Island. Co-developed by Aldar and Mubadala Investment Company.
The project is expected to eventually supply 98,000 square meters of high-end office space, thereby “adding considerable weight to ADGM’s (Abu Dhabi Global Market) position” as a financial hub in the Middle East.
“The need for Grade A commercial space on Al Maryah Island is growing as more and more global blue-chip businesses seek to locate their regional offices in ADGM” according to Jassem Saleh Busaibe, CEO of Aldar Investment.
Aldar purchased four office towers from Mubadala for more than Dh4 billion in July 2022 and over the past two years, Aldar and Mubadala have been focusing on building the office portfolio. Additionally, both partners had made a deal to own a portion of Al Maryah Tower in December 2022.
Both partners had declared in September 2024, that they were expanding their “long-standing strategic partnership” by means of a “series of joint ventures to own and manage assets valued at more than Dh30 billion” in Abu Dhabi.
This is all taking place at a time when demand for brand-new, ultra-premium office space in Abu Dhabi is at an all-time high and Abu Dhabi Global Market expanded presence in Al Reem Island recently.
One Maryah Place will be a part of the Dh27 billion portfolio of income-producing real estate properties held by Aldar Investment Properties.
According to Khalifa Al Romaithi, Executive Director of the UAE Real Estate and Infrastructure at Mubadala’s UAE Investments Platform, “The development (One Maryah place) is designed to not only meet the growing demand for world-class office space from international companies seeking to establish a presence in ADGM, but to do so sustainably, with both towers targeting LEED Gold certification and an Estidama 3 Pearl rating.”
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