An agreement signed on the sidelines of LIVEX 2026
The agreement was signed at LIVEX 2026 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. It was concluded in the presence of 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.
The partnership brings together three distinct roles: Mubadala as master developer and long-term steward of Al Maryah Island, TARAF for its design-led approach to development, and Kerzner for the expertise of its One&Only brand in ultra-luxury hospitality and residential.
Al Maryah Island continues to diversify
The project forms part of the ongoing evolution of Al Maryah Island, where Mubadala is drawing on specialist partners to broaden the destination’s residential and lifestyle offering. The island is already home to the Four Seasons Hotel Abu Dhabi, one of the benchmark hotel addresses in the Emirati capital.
Ali Eid AlMheiri said the continued evolution of Al Maryah Island was about bringing together the right partners and specialist expertise to create an ever more diverse destination for Abu Dhabi. He added that the partnership with TARAF and Kerzner reflected Mubadala’s role as an active partner of choice, and its approach of working with leading organisations that bring distinctive capabilities to the island.
The Mubadala executive noted that the arrival of One&Only adds a new dimension to the island’s growing residential offering, and placed the project within the next phase of growth for Al Maryah Island, which is set to establish itself as a destination in which to live, work, stay and invest. The sovereign wealth fund, whose portfolio stands at around €340 billion ($385 billion), is also active in European hospitality, as demonstrated by Mubadala Capital’s offer for Groupe Pierre & Vacances-Center Parcs.
A 44-storey tower linked to The Galleria
The tower will rise approximately 230 metres over 44 storeys. Its positioning has been designed to maximise views over the Arabian Gulf, the surrounding canals and the Abu Dhabi skyline. The architecture is based on a deliberately restrained palette of terracotta tones, champagne metals and glazing, conceived to respond to the city’s changing light.
The building will be directly connected to The Galleria, giving residents immediate access to the island’s shops, restaurants and leisure facilities. The project aims to combine this urban connectivity with a more private residential experience centred on landscape, wellbeing, service and views.
At the heart of the scheme, an elevated landscaped level will bring together gardens, terraces, wellness and social spaces above the city. Designed as an extension of the homes rather than a conventional amenity floor, it is intended to create a sense of retreat while remaining connected to the destination.
From one-bedroom homes to a penthouse
The mix will comprise one- to three-bedroom apartments, spacious duplexes and a penthouse. According to Low Ping, Group CEO of Yas Holding, each residence has been designed to balance generous proportions and privacy with the practical needs of everyday life, with One&Only’s residential standards guiding the design of living, entertaining and service spaces.
Low Ping described the partnership as combining Mubadala’s long-term vision for Al Maryah Island, TARAF’s strength in design and development, and Kerzner’s expertise in creating One&Only destinations, with the shared ambition of creating an enduring address. TARAF, a boutique developer active in Abu Dhabi and Dubai, already counts branded residences developed with international hotel and lifestyle brands in its portfolio.
Kerzner strengthens its residential pipeline in the UAE
For Kerzner International, the project is part of a clear regional growth strategy. Juan Aguilar said Kerzner places great importance on the strength and quality of its development partnerships and regards this relationship as an important part of its continued growth in the UAE. He added that the group looks forward to working closely with TARAF and Mubadala and to building on the relationship as it expands its residential portfolio in the region.
The group already has a strong presence in Dubai with Atlantis The Palm, Atlantis The Royal Resort & Residences, One&Only, SIRO and its Rare Finds collection, which includes The Meydan Hotel, whose management Kerzner has taken over. One&Only is also present in Greece, Montenegro, Mexico, Mauritius, the Maldives, South Africa, Rwanda and the United States.
Analysis – Following the One&Only and Private Homes project in Courchevel 1850, this announcement confirms the growing weight of branded residential in Kerzner’s strategy. In Abu Dhabi, the model rests on a division of roles between a sovereign master developer, a local developer and an international operator — a structure that allows the brand to expand in an urban setting without carrying the land risk alone.
At a glance by The Hospitality Tribune
One&Only Private Residences arrive on Al Maryah Island, Abu Dhabi
Partners: Mubadala (master developer), TARAF (Yas Holding) and Kerzner International
Tower: approx. 230 m, 44 floors, direct link to The Galleria
Mix: one- to three-bedroom homes, duplexes and a penthouse
Agreement signed at LIVEX 2026, announced 1 October 2026
Strategy: Kerzner grows its branded residential portfolio in the UAE
