IMKAN To Acquire 51 Percent Stake In Majestic Marine Investments Group To Boost Marine Construction Capabilities

IMKAN has acquired a 51 percent stake in Majestic Marine Investments Group LLC, in a deal that strengthens its marine construction capabilities in the UAE and Saudi Arabia. The transaction supports IMKAN’s wider development pipeline, particularly waterfront and coastal schemes, and aligns with Abu Dhabi Capital Group’s strategy to expand across key infrastructure sectors.

IMKAN is a global master developer based in Abu Dhabi and operates as a subsidiary of Abu Dhabi Capital Group. Majestic Group, which will now sit within IMKAN’s portfolio, is expected to handle a broad range of marine and offshore work, supporting future marinas, waterfront communities and coastal infrastructure 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 move, IMKAN plans to increase control over project delivery and timelines.

Founded in the 1980s, Majestic Group has become one of the region’s established marine engineering and marina construction specialists. The company has delivered more than 200 projects with a combined value above AED1.0 billion. Its workforce of over 400 professionals operates across the UAE and KSA and will transition into IMKAN’s growing business lines.

IMKAN views Majestic Group as a key vertical that will integrate with its existing property development activities. The marine specialist is expected to support offshore works in addition to onshore waterfront assignments. This integration is intended to improve coordination on complex coastal projects and streamline delivery for large-scale schemes in the Gulf.

Through the partnership, IMKAN aims to widen its operational footprint across upcoming marine and coastal developments in the GCC. The group plans to use Majestic Group’s expertise to enhance delivery capacity, while also seeking to create long-term value for stakeholders involved in regional infrastructure and real estate programmes.

"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 statement underlines expectations for stronger collaboration on large waterfront projects.

The transaction also reflects Abu Dhabi Capital Group’s commitment to diversifying investments in sectors seen as high growth, including infrastructure and development across the region. Asend Capital, led by Managing Partner Abed Assy, acted as the exclusive M&A advisor for the IMKAN Majestic Group acquisition, while Deloitte and Dentons provided financial and legal advice, supporting the completion of the deal.

With inputs from WAM