Abu Dhabi-based master developer, Imkan, has announced the acquisition of a 51 per cent stake in Majestic Marine Investments Group LLC, strengthening its in-house marine construction capabilities to support waterfront and coastal developments across the UAE and wider Gulf region.
The transaction marks a strategic milestone for Imkan’s long-term growth strategy, the developer said on Wednesday. It will enable the company to integrate marine engineering, marina construction and offshore works into its development platform.
Founded in the 1980s, Majestic Marine Investments Group LLC has delivered more than 200 marine projects valued at more than Dh 1 billion ($270 million) and employs a workforce of more than 400 across the UAE and Saudi Arabia. The company specialises in marina construction, infrastructure and coastal engineering works.
The acquisition comes amid rising demand for waterfront and coastal real estate across the UAE, driven by population growth, tourism development and increased investor interest in lifestyle-led communities.
Imkan said the acquisition will allow it to integrate specialist marine expertise into its development platform, supporting the delivery of large-scale waterfront communities and mixed-use projects. The move is expected to reduce reliance on external contractors while enhancing efficiency, quality control and project timetables.
Suwaidan Al Dhaheri, chief executive of Imkan Properties, said the deal will support the delivery of high-quality developments while positioning the company for long-term growth in a sector expected to continue expanding in the Gulf.
Financial terms of the transaction were not disclosed. Ascend Capital acted as exclusive M&A adviser, while Deloitte and Dentons served as financial and legal advisers, respectively.
Imkan, a subsidiary of Abu Dhabi Capital Group, has built a portfolio of 26 projects spanning five countries, with a focus on mixed-use, lifestyle and wellness-orientated developments. Several of its flagship projects, including large-scale, master-planned communities, feature extensive waterfront and coastal components, making marine engineering a strategically important capability for the developer.
