IHC invests in space economy with majority Marlan stake

Abu Dhabi conglomerate International Holding Company (IHC) is expanding into the space sector, with a subsidiary acquiring a majority stake in UAE company Marlan Holding.

Marlan is the holding company behind Marlan Space, an Abu Dhabi company investing in space technologies.

In August 2024 Marlan Space entered a joint venture with US company Loft Orbital to launch Orbitworks, a $100 million project to develop commercial low Earth orbit satellites.

International Tech Group will acquire an 80 percent stake in Marlan Holding, the company said in a statement to the Abu Dhabi Securities Exchange. The deal is subject to regulatory approvals. No financial details were disclosed.

The acquisition will enable IHC to invest across satellite infrastructure, advanced manufacturing and emerging space technologies.

“Space is becoming an increasingly important part of the global technology and infrastructure landscape, with applications extending across communications, Earth observation, data and artificial intelligence,” said IHC chief executive officer Syed Basar Shueb.

The acquisition gives IHC a strategic position in the space sector and provides Marlan Space with access to the group’s capital and capabilities to accelerate its next phase of growth, he said.

Marlan Space CEO Hamdullah Mohib said that IHC, as a majority shareholder, will help pursue opportunities across the global space economy.

• Space is ready for its Apple moment, Orbitworks CEO says
• Space42 predicts expansion as security concerns rise
• Gulf funds balance SpaceX potential against AI cash burn

IHC first invested in Elon Musk’s SpaceX in 2020 through private equity fund Falcon CI IV, adding another $25 million in June 2022.

In August, the company said net profit tripled year on year in the first half of 2026, supported by a 34 percent increase in revenues.

It is part of a business conglomerate led by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother of President Sheikh Mohammed bin Zayed Al Nahyan.

IHC has more than 1,300 subsidiaries operating across various sectors and international markets and has deployed AED14 billion ($3.8 billion) into associates, joint ventures, financial assets and real estate properties in the first half of this year.

The company’s shares closed flat at AED366 on Tuesday, down more than 8 percent so far this year.