The opening comes a decade after France and the UAE agreed to a 30-year partnership initially reported to be worth USD 1.1 billion, including nearly half a billion dollars for the rights to the Louvre brand alone.
French President Emmanuel Macron will be among those attending the 1600 GMT opening, along with Abu Dhabi Crown Prince Mohammed bin Zayed Al-Nahyan and leaders including Morocco's King Mohammed VI.
The museum design, by France's Pritzker Prize-winning architect Jean Nouvel, conjures up the image of an Arab medina as seen through the eyes of a contemporary cinematographer.
To reach the ground, each ray of light must cross eight layers of perforations, creating a constantly shifting pattern that mimics the shadows cast by palm trees or the roof of a traditional Arab market.
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The Louvre Abu Dhabi is the first of three museums to open on Saadiyat Island, where the UAE plans to launch the Guggenheim Abu Dhabi, designed by Frank Gehry, and Norman Foster's Zayed National Museum.
Some five per cent of the museum, which will open to the public on Saturday, is dedicated to contemporary and modern art, including a monumental piece by China's Ai Weiwei.
The main focus, however, is on world history and religions. Among the exhibits are an early Koran, a gothic Bible and a Yemenite Torah, facing each other and open at verses carrying the same message.
Jean-Luc Martinez, president of the Louvre in Paris, said the new museum was designed "to open up to others, to understand diversity" in "a multipolar world".
It currently has some 300 pieces on loan, including an 1887 self-portrait by Vincent van Gogh and Leonardo da Vinci's "La Belle Ferronniere".
"Because this is an international museum, we're expecting visitors from around the world," Mubarak said during a media tour ahead of Wednesday's inauguration ceremony.
"So a museum visitor from China will find something that speaks to her, to her history. A visitor from India will find the same.