BlueFive Capital Acquires 70% Controlling Stake in UAE-Based Gulf Cobla
BlueFive Capital, one of the world’s fastest-growing global asset management firms, announced today that it has acquired a 70% controlling stake in Gulf Cobla LLC, a UAE-based company specializing in dredging and land reclamation solutions with operations spanning the Middle East and South Asia.
Under the terms of the transaction, BlueFive Capital will acquire the entire 49% stake held by Advanced Dynamics Investments—a subsidiary of the Binladin Group—along with an additional 21% stake from the Dutco Group. Following the completion of the deal, Dutco will retain its position as a strategic shareholder in Gulf Cobla with a 30% stake.
Founded in 1977 under the directive of the late Ruler of Dubai, Sheikh Rashid bin Saeed Al Maktoum, Gulf Cobla is renowned for its role in shaping the landscape of modern Dubai. The company specializes in dredging, land reclamation, and related marine operations, utilizing a dedicated fleet of cutter suction dredgers and supporting equipment. It has played a pivotal role in regional urban development and infrastructure projects, successfully delivering major civil marine developments, including Jebel Ali Port, the New Aqaba Port, and Malé Airport in the Maldives.