Asend Capital is pleased to announce that Abu Dhabi–based master developer IMKAN Properties, part of Abu Dhabi Capital Group, has acquired a 51% stake in Majestic Investments Group ( ELMAR MARINAS L.L.C. – ELMAR MARINE ENGINEERING L.L.C) , significantly strengthening its in-house marine, marina, and coastal construction capabilities across the UAE and Saudi Arabia.
Asend Capital acted as the exclusive M&A advisor on this strategic transaction, leading the deal from origination through execution and supporting both parties in structuring a long-term, value-driven partnership.
The acquisition supports IMKAN’s long-term growth strategy as demand rises for complex waterfront and marina-led developments across the GCC. Founded in the 1980s, Majestic Marine has delivered more than 200 marine engineering projects valued at over USD 272 million and employs more than 400 professionals across the region.
We congratulate all stakeholders on this important milestone and look forward to witnessing the continued growth and success of this partnership.