IMKAN acquires 51% stake in Majestic Marine Investments Group to strengthen marine construction capabilities

Business

IMKAN acquires 51% stake in Majestic Marine Investments Group to strengthen marine construction capabilities

IMKAN, a global master developer headquartered in Abu Dhabi and a subsidiary of Abu Dhabi Capital Group (ADCG), has announced the acquisition of a 51% stake in Majestic Marine Investments Group LLC, reinforcing its long-term growth strategy across the UAE and the wider GCC.

The strategic acquisition establishes in-house marine construction and engineering capabilities to support IMKAN’s expanding portfolio of waterfront, marina and coastal developments. Majestic Marine Investments Group operates across the UAE and Saudi Arabia and is recognised as one of the region’s leading marine engineering and marina construction specialists.

Founded in the 1980s, Majestic Group has delivered more than 200 marine projects with a combined value exceeding AED 1 billion. The company employs over 400 professionals across its regional operations, all of whom will now become part of IMKAN’s growing business ecosystem.

The transaction marks a key milestone in IMKAN’s expansion plans, positioning Majestic Group as a strategic vertical that complements the developer’s core property business. The acquisition is expected to enhance project delivery efficiency while supporting offshore works and large-scale coastal developments.

Engineer Suwaidan Al Dhaheri, Chief Executive Officer of IMKAN Properties, said the acquisition reflects the company’s focus on strengthening its service portfolio and long-term competitiveness. He noted that Majestic Group’s technical expertise and proven delivery record across the UAE and Saudi Arabia would support the development of high-quality waterfront and marina projects, while positioning IMKAN for sustained growth in a sector experiencing strong regional demand.

Through the partnership, IMKAN aims to broaden its operational footprint, improve control over marine construction processes and create long-term value for stakeholders across upcoming coastal developments.

Marios Economides, Chief Executive Officer of Majestic Marine Investments Group, described the partnership as a significant step forward for the company. He said that joining IMKAN would accelerate Majestic Group’s growth and enable it to contribute to the delivery of landmark developments across the region.

The acquisition also aligns with Abu Dhabi Capital Group’s strategy to diversify investments across high-growth sectors and support leading businesses operating in regional infrastructure and development. Asend Capital, led by Managing Partner Abed Assy, acted as the exclusive M&A advisor on the transaction, while Deloitte and Dentons served as financial and legal advisors, respectively.