Cosmo details AED6 billion Yas Island development

Cosmo Developments has launched THE WADI, a mixed-use project on Abu Dhabi’s Yas Island with an estimated investment of AED6 billion and plans for 3,950 homes.

The company, a joint venture between Abu Dhabi-based Flag Holding Group and Reportage Group, said the development will occupy about 140,700 square metres along Yas Canal. Reportage Group, which manages Cosmo Developments, will oversee the project from development and delivery through to long-term management.

THE WADI will include studios and one-, two- and three-bedroom apartments, together with commercial, recreational and sports facilities. A hotel is also included in the master plan, extending the scheme beyond housing into hospitality and leisure uses.

The project is being planned around a nature-led design that places landscaped areas, water features and pedestrian movement at the centre of the community. Cars and parking are intended to be moved underground, leaving much of the surface for walking, cycling and outdoor activity. Plans include a running route of about six kilometres, alongside pedestrian and cycling paths, parks and a central landscaped valley.

Andrea Nucera, managing director of Cosmo Developments and group managing director of Reportage Group, said the project reflects the group’s approach to mixed-use communities designed around their location, residents’ needs and changing market expectations. He said the development introduces a nature-led philosophy intended to shape how residents experience the community over time.

The master plan also includes a canal-side marina, waterfront dining, gyms, spa facilities, private gardens and spaces designed for social interaction, according to project information published by Cosmo Developments. Native planting, including trees associated with the UAE landscape, is expected to form part of the wider landscaping concept.

Adnan Tareen, managing director of Flag Holding, said Yas Island offered the setting for a project of this scale and that the development was intended to support Abu Dhabi’s growth as a destination for living, investment and tourism. He said the mix of uses and emphasis on quality of life were designed to create long-term value for residents and investors.

The launch comes amid strong activity in Abu Dhabi’s property market. Abu Dhabi Real Estate Centre data show residential unit sales reached AED70.4 billion in the first half of 2026, compared with AED25.3 billion in the same period of 2025. Off-plan transactions accounted for 89 per cent of residential sales value and 82 per cent of deals during the six months.

Yas Island recorded AED7.3 billion in residential sales during the first half, according to the regulator’s market report. The island is also among six districts expected to account for 77 per cent of Abu Dhabi’s projected additional housing supply through 2030, alongside Saadiyat Island, Reem Island, Zayed City, Khalifa City and Hudayriyat Island.

Cosmo has positioned THE WADI as a contemporary interpretation of the UAE’s natural landscapes, drawing on the movement of water through valleys and the relationship between land, water and life. The concept is intended to translate those elements into the layout, landscaping and public spaces rather than treating them only as architectural themes.

Project material places the development close to Zayed International Airport and Yas Island’s major leisure attractions. The official launch information gives an approximate driving time of five minutes to the airport, nine minutes to Ferrari World Yas Island and about 23 minutes to central Abu Dhabi.

The wider market backdrop has been marked by a rise in transaction values. ADREC said total real estate transactions across Abu Dhabi reached AED117 billion in the first half of 2026, up 112 per cent year on year, while sales transactions totalled AED86.1 billion across 16,838 deals. Foreign direct investment in the sector reached AED13.8 billion, with non-resident investors from 116 nationalities active during the period.