Mubadala Development Company (Mubadala), an Abu Dhabi-based business development and investment company, announced today the launch of Mubadala Real Estate & Hospitality.
As Abu Dhabi grows and the economy diversifies, the Emirate’s real estate and hospitality sector needs sustainable developments. Mubadala Real Estate & Hospitality is setting a new standard by bringing high quality commercial and residential real estate, hospitality and related services to Abu Dhabi and internationally.
During his opening key note address at Cityscape Abu Dhabi 2008, Waleed Al Mokarrab Al Muhairi, Chief Operating Officer of Mubadala said, “At the heart of its strategy, Mubadala Real Estate & Hospitality is building businesses and creating partnerships with industry leading companies that share our values. These partnerships will in turn deliver architecturally outstanding and sustainable residential and commercial properties, supported by world-class property management services. The developments will not only provide secure investment opportunities, but also ultimately create sustainable and integrated communities in Abu Dhabi and internationally. Every project, partnership and joint venture undertaken by Mubadala Real Estate & Hospitality will deliver benchmark projects, be in line with the Urban Structure Framework plan - Plan Abu Dhabi 2030, and enhance Abu Dhabi’s standing as a global capital city.” he added.
Mubadala Real Estate & Hospitality’s current initiatives in Abu Dhabi and internationally include:
- Capitala, a joint venture with the Singapore-based CapitaLand, is a strategic real estate master planner and developer committed to designing, building, managing and maintaining world-class integrated communities. Capitala’s flagship development is Arzanah, an unparalleled residential community blended with the best of retail, leisure and sports, allowing residents and visitors to discover the perfect setting for work, recreation and relaxation.
- John Buck International, a joint venture with the US-based The John Buck Company, is a quality-driven commercial real estate services company specializing in development, leasing, and property management. John Buck International is the master developer of Sowwah Island, the island earmarked by the Urban Framework Plan, ‘Plan Abu Dhabi 2030′ as the core of Abu Dhabi’s new Central Business District. The flagship development on the heart of the island is Sowwah Square, which will be the home of the new distinctive headquarters of the Abu Dhabi Securities Exchange, surrounded by four Grade ‘A’ high-rise office towers.
- Internationally, Mubadala has ventured into Malaysia leading a consortium of international developers and investors in an investment in Node 1 of the Iskandar Development Region. This integrated city development in Nusaja is the largest foreign real estate project in Malaysia with an initial investment of USD 600 million and spans over 1,587 acres.
- A significant initiative supporting Abu Dhabi’s plans in becoming a world-class tourism destination is the development of the MGM Grand Abu Dhabi, the centerpiece of the Mina Zayed development, a 150-acre urban waterfront redevelopment comprising leisure and entertainment facilities, including over three dozen entertainment venues. Mubadala has appointed MGM MIRAGE to provide development management services for the project,
- Mubadala has exclusively partnered with Los Angeles-based KOR Hotel Group to grow its two luxury brand platforms - THE TIDES and Viceroy - in the Middle East, Africa and Indian Ocean region. The KOR Hotel Group’s collection of unique hotels offer innovative style, exceptional design and unrivalled service in some of the world’s top destinations.
- PF Emirates Interiors, a joint venture with Italian luxury furniture designer Poltrona Frau, is a leading luxury interior design and interior furnishings firm inspired by the best of Italian quality and creativity.
Mubadala Real Estate & Hospitality’s integrated portfolio of developments and services has been carefully designed to meet the growing demand in these sectors in Abu Dhabi - and beyond. For more information on all these joint ventures and developments, Mubadala Real Estate & Hospitality are currently showcasing their portfolio for the first time at Cityscape Abu Dhabi, in the Atrium opposite the VIP entrance at Stand AB30.