Source : WAM
IMKAN, a leading global master developer headquartered in Abu Dhabi and a subsidiary of Abu Dhabi Capital Group (ADCG), announced today the acquisition of a 51 percent stake in Majestic Marine Investments Group LLC (Majestic Group), a prominent marine engineering and marina construction firm operating across the UAE and Saudi Arabia.
Founded in the 1980s, Majestic Group has earned a strong reputation as one of the region’s most established marine specialists, completing over 200 projects with a combined value exceeding AED 1.0 billion. The company employs more than 400 professionals across its UAE and KSA operations, who will now become part of IMKAN’s expanding portfolio.
The acquisition represents a strategic milestone for IMKAN, supporting its long-term growth plans within the UAE. Majestic Group will act as a key vertical to complement IMKAN’s property development business, offering in-house marine construction capabilities for waterfront, marina, and coastal developments, while also contributing to offshore projects.
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 extend its operational footprint and strengthen delivery capabilities for upcoming marine and coastal projects, while creating 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 also underscores Abu Dhabi Capital Group’s commitment to diversifying investments across high-growth sectors and supporting leading businesses in regional infrastructure and development.
Asend Capital, led by Managing Partner Abed Assy, acted as the exclusive M&A advisor for the transaction, while Deloitte and Dentons provided financial and legal advisory services, respectively.
