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Pegasus acquires new farms in the UAE and Portugal
Pegasus recently secured 3.5 hectares of existing farmland in Al-Ajban, where they now have several greenhouses under construction. The farm will predominantly grow mint, along with other herbs, for distribution across the UAE and the first harvest is expected in the next few months. Since the launch of this project in the summer, they have pre-allocated over 50% of the A-Frames to existing investors from the Oman farm.
As of November 2017, seventy hectares of existing farm land and greenhouses have been acquired in Ras Al-Khaimah. The company plans to develop this land into an Agricultural City, which will include a Hydroponics Discovery and Educational Centre, a pre-packaging facility for mixed salad bags and a research and development facility. The greenhouses will grow a diverse mix of produce such as lettuce, tomatoes, beans, peppers, herbs and other salad items. Pegasus anticipates that the first greenhouse will be in production during the first quarter of 2018.
Finally, the company secured two farm sites in Portugal.
For more information:
Pegasus Food Futures
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