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ABU DHABI / WAM
IMKAN, a leading global master developer based in Abu Dhabi and a subsidiary of Abu Dhabi Capital Group (ADCG), announced the acquisition of a 51 percent stake in Majestic Marine Investments Group LLC (Majestic Group), a leading marine engineering and marina construction company operating across the UAE and Saudi Arabia.
Founded in the 1980s, Majestic Group has built a strong reputation as one of the region’s most established marine specialists, delivering more than 200 projects with a cumulative value exceeding AED1.0 billion. The company employs more than 400 professionals across its operations in the UAE and KSA, who will now join IMKAN’s growing portfolio.
The acquisition marks a significant strategic milestone for IMKAN, supporting the group’s long-term expansion plans within the UAE. Majestic Group will serve as a key vertical complementing IMKAN’s property development business, providing in-house marine construction capabilities to support waterfront, marina, and coastal development initiatives, while also playing a key role for offshore works.
Engineer Suwaidan Al Dhaheri, CEO of IMKAN Properties, said, “This acquisition marks a key strategic move for IMKAN to expand its portfolio of services and establish in-house marine construction capabilities.”
“Majestic Group’s deep technical expertise and strong delivery track record across the UAE and Saudi Arabia will support the development of high-quality waterfront, marina and coastal projects, while positioning IMKAN for long-term growth in a sector expected to continue expanding across the GCC.”
Through this partnership, IMKAN aims to broaden its operational footprint and enhance delivery capabilities across upcoming marine and coastal projects, while building long-term value for stakeholders.
“Joining IMKAN marks an exciting new chapter in Majestic Group’s journey,” said Marios Economides, CEO of Majestic Marine Investments Group. “With IMKAN’s vision and support, we are well positioned to accelerate our growth and contribute to the delivery of iconic developments across the region.”
The acquisition further reinforces the commitment of Abu Dhabi Capital Group to diversify investment across high-growth sectors and support leading businesses operating across regional infrastructure and development.
Asend Capital, led by its Managing Partner Abed Assy, acted as the exclusive M&A advisor on the transaction. Deloitte and Dentons served as financial and legal advisors, respectively.