BlueFive Capital Acquires 70% of Gulf Cobla in First Infrastructure Investment

Nelson Gibb of Dutco Group and Hazem Ben-Gacem of BlueFive Capital

Abu Dhabi-based BlueFive Capital has acquired a 70% stake in Gulf Cobla LLC, a UAE marine infrastructure company specializing in dredging and land reclamation, marking the investment firm's first major move into infrastructure and real assets.

The transaction expands BlueFive Capital's investment portfolio beyond private equity and real estate while positioning Gulf Cobla to pursue regional expansion amid growing infrastructure investment across the Gulf Cooperation Council (GCC).

The acquisition also reflects increasing investor appetite for infrastructure assets supporting economic diversification initiatives across the Middle East, including projects linked to logistics, ports, tourism, and coastal development.

What Does the BlueFive Capital–Gulf Cobla Deal Include?

Under the agreement:

Transaction Detail	Description
Acquiring investor	BlueFive Capital
Stake acquired	70%
Seller 1	Advanced Dynamics Investments (affiliate of Saudi Binladin Group) — 49%
Seller 2	Dutco Group — 21%
Remaining shareholder	Dutco Group — 30%
Sector	Marine infrastructure, dredging, land reclamation
Headquarters	United Arab Emirates

The transaction gives BlueFive Capital majority ownership while maintaining Dutco Group as a strategic minority shareholder with a 30% stake.

Why Is This Acquisition Strategically Important?

The investment represents BlueFive Capital's first entry into infrastructure and real assets, expanding the firm's investment strategy beyond traditional asset classes.

Founded in 2023, BlueFive Capital has rapidly grown into a global investment platform managing approximately US$15 billion in assets under management (AUM). Operating from the Abu Dhabi Global Market (ADGM), the firm has established offices across Abu Dhabi, Dubai, London, Manama, Muscat, and Beijing.

Infrastructure has become an increasingly attractive investment theme as Gulf governments accelerate spending on:

• Port and logistics infrastructure
• Coastal and waterfront developments
• Tourism megaprojects
• Industrial zones
• Marine transportation infrastructure
• Climate resilience and land reclamation projects

The acquisition positions BlueFive Capital to benefit from these long-term regional investment trends while adding operational infrastructure capabilities to its portfolio.

What Is Gulf Cobla?

Established in 1977 under the direction of the late Sheikh Rashid bin Saeed Al Maktoum, Gulf Cobla has been involved in marine infrastructure development across the Middle East and South Asia for nearly five decades.

The company specializes in:

• Dredging
• Land reclamation
• Marine civil engineering
• Cutter suction dredging
• Marine support operations

Its fleet includes cutter suction dredgers supported by auxiliary marine equipment used for large-scale coastal and infrastructure projects.

Among its notable projects are:

Project	Country
Jebel Ali Port	UAE
Aqaba New Port	Jordan
Velana International Airport (land reclamation)	Maldives

These projects highlight Gulf Cobla's experience in developing strategic maritime infrastructure supporting trade, aviation, and economic development.

How Does This Deal Align with Middle East Infrastructure Growth?

Infrastructure investment remains one of the largest themes across the Middle East as governments diversify their economies beyond hydrocarbons.

Countries including the UAE and Saudi Arabia continue investing billions of dollars into:

• Smart cities
• Industrial corridors
• Logistics hubs
• Maritime infrastructure
• Tourism destinations
• Waterfront developments

Regional initiatives such as NEOM, major port expansions, and integrated economic zones continue generating demand for dredging and land reclamation expertise.

The UAE has also strengthened its position as a regional investment hub through financial centres including ADGM, attracting global capital into sectors such as infrastructure, private equity, logistics, and technology.

Against this backdrop, BlueFive Capital's acquisition provides Gulf Cobla with additional financial resources and strategic support to pursue expansion across high-growth regional markets.

What Did BlueFive Capital and Dutco Group Say About the Acquisition?

Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital, described the acquisition as the firm's entry into infrastructure and real assets, highlighting Gulf Cobla's nearly 50-year operating history and its potential for future regional growth.

Nelson Gibb, Group CEO of Dutco Group, said the company will continue its partnership through its remaining 30% ownership, citing Gulf Cobla's established reputation, experienced management team, and strong position within the regional dredging industry.

Both companies said they intend to work with Gulf Cobla's management team to:

• Expand into high-growth regional markets
• Improve fleet utilization
• Pursue new infrastructure opportunities
• Strengthen long-term operational capabilities

 

 

FAQ

1. What stake did BlueFive Capital acquire in Gulf Cobla?
BlueFive Capital acquired a 70% stake in Gulf Cobla, purchasing 49% from Advanced Dynamics Investments and 21% from Dutco Group, while Dutco retained a 30% ownership stake.

2. Why is BlueFive Capital investing in Gulf Cobla?
The acquisition marks BlueFive Capital's entry into infrastructure and real assets, expanding its investment portfolio while positioning the firm to benefit from increasing infrastructure development across the Middle East.

3. What does Gulf Cobla specialize in?
Founded in 1977, Gulf Cobla specializes in dredging, land reclamation, marine civil engineering, and related marine infrastructure projects across the Middle East and South Asia.

4. What major projects has Gulf Cobla completed?
Gulf Cobla has participated in projects including Jebel Ali Port in the UAE, Aqaba New Port in Jordan, and land reclamation works for Velana International Airport in the Maldives.

5. How large is BlueFive Capital?
As of 2026, BlueFive Capital manages approximately US$15 billion in assets under management (AUM) and invests across private equity, infrastructure, real estate, and financial products from its headquarters in ADGM, Abu Dhabi.