Dubai, UAE – Abu Dhabi-based Emkan Real Estate, a subsidiary of Abu Dhabi Capital Group (ADCG), announced the acquisition of a 51% stake in Majestic Marine Investments, a marine engineering and marina construction company operating in both the UAE and Saudi Arabia.
Emkan said in a statement that this acquisition represents a strategic step in its journey, supporting long-term expansion plans within the UAE.
She pointed out that this deal would strengthen Emkan’s business system in real estate development.
Majestic Group will provide specialized in-house capabilities in marine construction work.
To support waterfront projects, marinas, and coastal development projects, in addition to their contribution to the implementation of marine works.
The CEO of Emkan Real Estate, Engineer Suwaidan Al Dhaheri, said: “The acquisition represents a strategic step within (Emkan’s) efforts to expand the scope of its services and enhance its specialized capabilities in marine construction work”.
He added: “(Majestic’s) expertise, in addition to its achievements in implementing projects in the Emirates and Saudi Arabia, will contribute to supporting the development of high-quality projects for waterfronts, marinas and coastal projects, which supports (Ekmkan’s) ability to achieve long-term growth in a sector that is expected to continue its expansion at the level of the Gulf region”.
