Object 1, a key real estate developer, has closed a major land investment in Abu Dhabi, marking a significant step forward in its expansion into the capital. 

The developer has acquired four waterfront plots on Al Reem Island, within the Shams Gate District, with a combined development area of over 2 million sq ft and a total sales value of AED4.5 billion ($1.22 billion).

The transaction marks a defining next step following Object 1’s expansion into Abu Dhabi in late 2025,which included the launch of its first Sales Gallery in the capital and its long-term growth plans for the emirate. 

Al Reem Island land acquisition reflects the company’s alignment with the government’s National Family Growth Agenda 2031. 

With 2026 designated as the Year of Family, the investment prioritises land positions suited to long-term residential communities, encouraging stability, community-led living, and environments that support families at different life stages.

Egor Maslennikov, Chairman and Founder of Object 1, said: "Our entry into Abu Dhabi was always intended as a long-term commitment, not a one-off expansion. Closing this investment on Al Reem Island reflects our confidence in the capital’s direction and our readiness to contribute meaningfully to its residential landscape."

"Abu Dhabi offers the right balance of stability, planning clarity, and community demand, which aligns closely with how we build," he added.-TradeArabia News Service