BlueFive Capital has agreed to acquire a 70% stake in UAE-based dredging and land reclamation company Gulf Cobla, marking the investment firm’s entry into the infrastructure and real assets sector. The financial terms of the deal have not been disclosed. The transaction brings together one of the region’s growing investment platforms and a company that has supported major marine infrastructure projects for nearly five decades.
Deal Reshapes Gulf Cobla’s Ownership
As part of the transaction, BlueFive Capital will purchase the entire 49% shareholding held by Advanced Dynamics Investments, an affiliate of the Saudi Binladin Group. It will also acquire an additional 21% stake from Dutco Group.
After the deal is completed, Dutco Group will continue to own the remaining 30% stake in Gulf Cobla and will stay involved as a shareholder. The companies did not reveal the value of the acquisition or the expected completion date.
A Company with a Long History
Founded in 1977 by order of the late Sheikh Rashid bin Saeed Al Maktoum, the former ruler of Dubai, Gulf Cobla has played a significant role in marine infrastructure development across the Middle East and South Asia.
The company specializes in dredging, land reclamation, and related marine operations. It operates a fleet of cutter suction dredgers and supporting vessels that have worked on large-scale civil marine projects. Among its notable projects are the development of Jebel Ali Port in the UAE, Aqaba New Port in Jordan, and the airport project in Malé, Maldives.
BlueFive Capital Plans Regional Growth
Hazem Ben-Gacem, Founder and Chief Executive Officer of BlueFive Capital, said the investment represents the firm’s first move into infrastructure and real assets.
He said Gulf Cobla has built a strong reputation over almost 50 years and added that BlueFive Capital intends to support the company’s next stage of growth through its investment platform, regional network, and business ecosystem.
Dutco Group Remains a Strategic Partner
Dutco Group welcomed the partnership and confirmed it will remain a shareholder after the transaction.
Nelson Gibb, Group CEO of Dutco, said Gulf Cobla has a strong legacy, an experienced management team, and an established position in the regional dredging market. He added that working alongside BlueFive Capital will help strengthen the company’s future capabilities while building on its long-standing heritage.
Focus on Expansion and New Opportunities
Following the acquisition, BlueFive Capital and Dutco Group said they will work closely with Gulf Cobla’s management team to identify growth opportunities in high-potential regional markets.
The partners plan to increase fleet utilization, expand the company’s presence in key markets, and create new business opportunities across the infrastructure and marine sectors.
BlueFive Capital currently manages approximately $15 billion in assets under management (AUM) and invests across private equity, real estate, infrastructure, and financial products. The firm is incorporated in Abu Dhabi Global Market and operates offices in Abu Dhabi, Dubai, London, Manama, Muscat, and Beijing. The Gulf Cobla acquisition reflects the company’s strategy to broaden its investment portfolio while supporting infrastructure development in high-growth economies.
