Bahrain-based agribusiness platform Green Corp has acquired an undisclosed stake in the UAE’s first urban vertical farming company Badia Farms, according to a statement by Green Corps’ mother company Gulf Islamic Investments (GII). The merger aims to grow Badia Farms’ sustainable food production projects across the Gulf region. The UAE currently imports more than 80% of its food requirements, the majority of which are vegetables, according to the Badia Farms website.

About Green Corp: The Green Corp platform was launched last month by Gulf Ventures Capital — a Bahrain-based subsidiary of GII — to initiate and develop sustainable agricultural, aquaculture, food processing, and production projects across the GCC countries, Trade Arabia reported at the time. Green Corp also aims to strengthen domestic and regional food distribution channels. GII currently has USD 3 bn in assets under management.

About Badia Farms: Badia Farms grows gourmet produce — mostly microgreens and herbs — in indoor vertical farms in Dubai, and sources it to the UAE’s top restaurants and hotels, according to their website. Their method uses 90% less water and is more energy efficient than open field growing.

Regional interest in vertical farming is growing: The Abu Dhabi Developmental Holding Company (ADQ) launched a vertical farming project in collaboration with Italy’s Zero Farms in ADQ’s AgTech Park last month. Once fully completed, the 40k sqm farm is expected to produce roughly 6% of the country’s consumption. In February, KSA’s sovereign wealth fund and US-based AeroFarms signed a joint venture to build and operate indoor vertical farms in Saudi Arabia and MENA.

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