UAE – Mubasher: Abu Dhabi Capital Group’s (ADCG) subsidiary IMKAN has acquired a 51% stake in Majestic Marine Investments Group, which is focused on marine engineering and marina construction and operates across the UAE and Saudi Arabia.
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, in addition to playing a key role for offshore works.
The acquisition marks a significant strategic milestone for IMKAN as it supports the group’s long-term expansion plans within the UAE, according to a press release.
The CEO of Majestic Group, Marios Economides, stated: “Joining IMKAN marks an exciting new chapter in Majestic Group’s journey.”
Economides added: “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.”
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. The acquisition further reinforces the commitment of ADCG to diversify investment across high-growth sectors and support leading businesses operating across regional infrastructure and development.
The CEO of IMKAN Properties, Suwaidan Al Dhaheri, said: “This acquisition marks a key strategic move for IMKAN to expand its portfolio of services and establish in-house marine construction capabilities.”
Al Dhaheri noted: “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.”
Majestic Group was founded in the 1980s and 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 AED 1 billion.
