Imkan acquires majority share in Majestic: Abu Dhabi-based master developer Imkan acquired a 51% stake in Majestic Marine Investments Group, a marine engineering and marina construction company operating in the UAE and Saudi Arabia, state news agency Wam reports. Majestic Marine Investments has delivered more than 200 projects worth over AED 1 bn.

The rationale: The developer is looking to bolster its in-house construction capabilities and support broader plans to integrate marine engineering into its property development business, Imkan CEO Suwaidan Al Dhaheri said.

It’s not the only one: Imkan is the latest in a string of developers looking to optimize construction timelines and project costs by phasing out reliance on third-party contractors. In August, Emaar Properties set up an in-house contracting arm, Rukn Mirage, to manage its internal projects, while Arada Developments fully acquired the New South Wales arm of Roberts Co — a Sydney-based commercial construction company — to integrate it into UAE operations.

This comes as the property market continues to go from strength to strength, with Dubai real estate prices climbing 70% over four years to December 2024 and Abu Dhabi also seeing double-digit growth as a flurry of new projects enters the market.

ADVISORS- Asend Capital acted as the M&A advisor on the transaction, while Deloitte served as financial advisor and Dentons acted as legal advisor.

Modon divests stake in hotel

Meanwhile, Abu Dhabi-based developer Modon Holding is divesting its indirect stake in Icon Hotel Investment to ADQ, according to an ADX disclosure (pdf). The transaction is slated for completion by 1Q 2026, following necessary regulatory approvals.

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