25 March 2024: Manama, Kingdom of Bahrain: Bahrain Real Estate Investment Company (Edamah), the real estate arm of the Kingdom's sovereign wealth fund, Bahrain Mumtalakat Holding Company (Mumtalakat), announced a strategic partnership with Badia Farms, a leading controlled environment food producer, which will invest several million dollars in a new sustainable farm in the Kingdom of Bahrain. The initiative will enhance Bahrain’s agricultural industry by introducing innovative sustainable farming practices from an experienced agricultural producer.
Badia Farms is a mission-driven sustainability company that focuses on the development and production of different varieties of fruits, vegetables, and plants. Part of the Bahrain-based Green Corp food investment management platform backed by Gulf Islamic Investment group (GII), with its US$4.5 billion assets under management (AUM), Badia Farms was the first commercial high-tech vertical farm in the Gulf region to produce fresh fruits & vegetables year-round. Its objective is to transform conventional farm growing methods across the GCC through technology, science and innovation.
Badia Farms secured the land for its Agricultural Oasis in Hamala, Bahrain through a competitive bidding process on the Government Land Investment Platform, emerging as the successful bidder for the plot. Under the agreement, Badia Farms will lease an area of 50,000 sq.m. from Edamah to implement sustainable and urban farming practices, producing a diverse range of fresh fruit and vegetables.
The project will implement the latest hydroponic farming techniques, while recycling water and biodegradable matter for re-use on the project and using solar panels to create clean, green power. Its hydroponic systems in controlled environments (such as greenhouses) will ensure year-round crop production, reducing dependence on seasonal variations, enhancing Bahrain’s food security and addressing the challenges of limited arable land and water scarcity.
The agreement was signed by Chris Calvert and Eng. Omar Al Jundi, the CEOs of Edamah and Badia Farms respectively, in the presence of Her Excellency Noor bint Ali Al Khulaif, Minister for Sustainable Development and CEO of the Bahrain Economic Development Board (EDB), His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat and Chairman of Edamah, Mohammed Alhassan and Pankaj Gupta - co-Founders and co-CEOs of Gulf Islamic Investments Group (GII) - and Saleh Abdullah Albelushi, Director of Green Corp.
His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, CEO of Mumtalakat and Chairman of Edamah said, "This collaboration with Badia Farms marks a transformative step for Bahrain's agricultural sector, contributing to the Kingdom's long-term economic growth. It will contribute to Bahrain's self-sufficiency in food production by using cutting-edge technologies for a greener future, whilst creating employment and business opportunities for Bahrainis.”
He added, “This foreign direct investment on Edamah's land, channeled specifically towards innovative agricultural practices, showcases our confidence in Badia Farms' approach and underscores the potential for further growth and development within the sector.”
Eng Omar Al Jundi commented, “Our partnership with Edamah allows Badia Farms to bring pioneering hydroponic farming techniques to Bahrain, redefining sustainable agriculture. Together, we aim to build a resilient food system, focusing on environmental management and food security.”
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