Al Dahra Agricultural Company plans to invest $130 million (AED 477.6 million) to buy and develop plots of land in 2017, according to vice chairman and managing director Khadim Abdulla Al Darei.
The company owns 1,000 hectares of land in Serbia for fruit cultivation, with plans to add another 1,000 hectares, he added on the sidelines of the Global Forum for Innovations in Agriculture (GFIA) in Abu Dhabi.
Al Dahra also owns 10,000-hectare land in each Spain and the US, as well as 5,000 hectares in Australia.
Last February, the company announced plans to expand in Romania, Serbia, and Australia in 2017.
In Egypt, the company has a total of 135,000 hectares of land for agricultural reclamation, of which 45,000 are already reclaimed and planted.
In addition, around 100,000 hectares are located in Toshka, of which 30,000 are cultivated with investments worth $100 million since 2010.
Around 70% of the company’s production in Egypt is sold to the local market, while the rest is exported to the UAE.
The company’s current investments are valued at EGP 3 billion ($170.4 million) in many projects including reclamation of lands in Toshka and Sharq El Owainat, Al Darei said earlier.