Mitsubishi Estate digs into smart greenhouse farming

Mitsubishi Estate will make a full entry into agriculture through a capital partnership with a major domestic horticulture company, with an eye to taking technology-based farming abroad.

The Japanese real estate company is teaming up with Okayama Prefecture-based Sara, a specialist in cutting-edge greenhouse facilities. Mitsubishi Estate aims to generate annual sales of about 30 billion yen ($280 million) from this undertaking in 10 years as it anticipates growth in efficient greenhouse farming. The size of the capital stake was not disclosed.

Sara grows tomatoes, lettuce and bell peppers in greenhouses. The total cultivation area measures roughly 11 hectares, among the largest in Japan for indoor farming. Plans call for setting up biomass power plants next to greenhouses to supply the necessary electricity.

Read more at Asian Review

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