Abu Dhabi-based real estate developer Imkan has acquired Abu Dhabi Arch Marble and Granite Factory, a manufacturer of building materials, as the company aims to diversify its revenue stream and expand its operations across the value chain.
The company did not disclose the total value of the deal but said the merged entity has been renamed to Imada – combining the name of the legacy business with its new owner Imkan.
“This significant step forward in our growth strategy allows us to strengthen our market position and gain more control over our supply chain,” said Suwaidan Al Dhaheri, managing director of Imkan.
“By incorporating Imada's expertise in manufacturing high-quality building materials with Imkan's vision for sustainable communities, we are confident in our ability to create more value for our customers.”
Abu Dhabi Arch Marble and Granite Factory was set up in 2000. It provides services to a diverse range of clients, from large-scale real estate projects to private royal residences.
The latest acquisition comes as UAE’s property sector rebounds from the pandemic, with developers planning new projects amid higher demand from buyers.
Abu Dhabi recorded 10,557 real estate transactions worth Dh46.33 billion ($12.61 billion) in the first half of 2023, according to official data.
The value of the deals more than doubled during the six-month period, while the volume of transactions, which include property sales and mortgages, rose by 41 per cent on an annual basis, Abu Dhabi Media Office reported, citing data from the Department of Municipalities and Transport.
A wholly owned subsidiary of Abu Dhabi Capital Group, Imkan has a portfolio of 26 projects spanning two continents. One of the company’s key projects is Makers District, a waterfront mixed-use development on Reem Island, Abu Dhabi.
Other developments include Nudra Saadiyat, a beachside community consisting of 32 luxury villas and five beachfront plots on Abu Dhabi's Saadiyat Island, Sheikha Fatima Park and Imkan’s Al Jurf master plan.
Imkan’s international portfolio comprises high-end developments and mixed-use projects in Egypt and Morocco.
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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Global state-owned investor ranking by size
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Brief scoreline:
Manchester United 1
Mata 11'
Chelsea 1
Alonso 43'
The specs
AT4 Ultimate, as tested
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Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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RESULTS
Catchweight 63.5kg: Shakriyor Juraev (UZB) beat Bahez Khoshnaw (IRQ). Round 3 TKO (body kick)
Lightweight: Nart Abida (JOR) beat Moussa Salih (MAR). Round 1 by rear naked choke
Catchweight 79kg: Laid Zerhouni (ALG) beat Ahmed Saeb (IRQ). Round 1 TKO (punches)
Catchweight 58kg: Omar Al Hussaini (UAE) beat Mohamed Sahabdeen (SLA) Round 1 rear naked choke
Flyweight: Lina Fayyad (JOR) beat Sophia Haddouche (ALG) Round 2 TKO (ground and pound)
Catchweight 80kg: Badreddine Diani (MAR) beat Sofiane Aïssaoui (ALG) Round 2 TKO
Flyweight: Sabriye Sengul (TUR) beat Mona Ftouhi (TUN). Unanimous decision
Middleweight: Kher Khalifa Eshoushan (LIB) beat Essa Basem (JOR). Round 1 rear naked choke
Heavyweight: Mohamed Jumaa (SUD) beat Hassen Rahat (MAR). Round 1 TKO (ground and pound)
Lightweight: Abdullah Mohammad Ali Musalim (UAE beat Omar Emad (EGY). Round 1 triangle choke
Catchweight 62kg: Ali Taleb (IRQ) beat Mohamed El Mesbahi (MAR). Round 2 KO
Catchweight 88kg: Mohamad Osseili (LEB) beat Samir Zaidi (COM). Unanimous decision
The biog
Title: General Practitioner with a speciality in cardiology
Previous jobs: Worked in well-known hospitals Jaslok and Breach Candy in Mumbai, India
Education: Medical degree from the Government Medical College in Nagpur
How it all began: opened his first clinic in Ajman in 1993
Family: a 90-year-old mother, wife and two daughters
Remembers a time when medicines from India were purchased per kilo
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
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Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
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