IMKAN, a master developer based in Abu Dhabi and a subsidiary of Abu Dhabi Capital Group, has acquired a 51% stake in Majestic Marine Investments Group LLC. The company operates in marina construction and marine engineering in the UAE and Saudi Arabia.
Established in the 1980s, Majestic Group has completed more than 200 marine and marina projects and employs more than 400 people.
Within the group, ELMAR Marinas LLC, based in the Umm Al Quwain industrial area, handles the design and construction of composite marina structures, including jetties, pontoons and boardwalks. The company also produces marina equipment such as electricity and water pedestals, mooring equipment, aluminium gangways and safety ladders.
MME Marine Engineering LLC, headquartered in Dubai with a branch in Abu Dhabi, manages installation and project work. Since 2007, the company has installed pontoons across the Gulf and international markets, including the Maldives, Seychelles, Oman, Saudi Arabia and Qatar. It has also completed marina work at fishing ports across the Emirates.
Engineer Suwaidan Al Dhaheri, CEO of IMKAN Properties, stated: “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.”
Marios Economides, CEO of Majestic Marine Investments Group, said: “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.”
Asend Capital, led by managing partner Abed Assy, acted as the exclusive M&A advisor on the transaction. Deloitte and Dentons served as financial and legal advisors.
