"possibility" It acquires a 51% stake in "Majestic Marine for Marine Investments "
ABU DHABI, December 24 / WAM / Imkan Properties, which is headquartered in Abu Dhabi and a subsidiary of Abu Dhabi Capital Group (ADCG), announced today its acquisition of a 51% stake in Majestic Marine Marine Investments LLC, a company specialized in the marine engineering sector and the construction of marinas, and operating its activities in both the United Arab Emirates and the Kingdom of Saudi Arabia.
Majestic Group was established in the 1980s, and has succeeded in establishing its position as one of the most prominent companies specialized in marine business in the region, through the implementation of more than 200 projects, with a total value exceeding 1.0 billion dirhams. The group employs more than 400 experts and specialists in the United Arab Emirates and Saudi Arabia, who will join IMKAN’s growing portfolio in light of this deal.
The acquisition represents a strategic step in IMKAN’s journey, supporting the group’s long-term expansion plans within the UAE. This deal will enhance IMKAN’s business system in real estate development, as Majestic Group will provide internal capabilities specialized in marine construction work, supporting waterfront projects, marinas, and coastal development projects, in addition to its contribution to the implementation of marine works.
Engineer Suwaidan Al Dhaheri, CEO of IMKAN Real Estate, said: “The acquisition represents a strategic step within IMKAN’s endeavors to expand the scope of its services and enhance its specialized capabilities in marine construction work. The great technical and engineering expertise enjoyed by the Majestic Group, in addition to its track record of achievements in implementing projects in the UAE and the Kingdom of Saudi Arabia, will contribute to supporting the development of high-quality projects for waterfronts, marinas and coastal projects, thus supporting IMKAN’s ability to achieve long-term growth in a sector that is expected to It continues to expand throughout the Gulf region.
Through the partnership, IMKAN aims to expand its operational presence and enhance its efficiency in implementing marine and coastal projects in the future, supporting the achievement of sustainable value for all stakeholders in the long term.
For his part, Marios Economides, CEO of Majestic Marine Investments, said: “Our joining IMKAN represents a new and important milestone in the journey of the Majestic Group. Thanks to IMKAN’s vision and the support it provides, the group is preparing for a new phase of expansion and participation in implementing pioneering projects at the regional level.”
The acquisition reflects Abu Dhabi Capital Group’s commitment to continue diversifying its investments in sectors that have great growth potential, and to support leading companies working in the fields of infrastructure and development in the region.
It is worth noting that Ascend Capital and its managing partner Abdel Moneim Assi represented the exclusive advisor for mergers and acquisitions in this deal, while Deloitte assumed the role of financial advisor, and Dentons assumed the role of legal advisor.
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