Emirati agribusiness Al Dahra is in discussions to buy more agricultural property in Egypt, two sources with firsthand knowledge of the situation told “Reuters.”
The sources did not specify how close a contract was, but the investment could include hundreds of millions of dollars in much needed funds to recover desert and produce critical commodities like as wheat and corn.
Al Dahra, which is partially owned by Abu-Dhabi sovereign wealth fund ADQ, is in discussions with the Egyptian military’s National Service Projects Organisation (NSPO) to acquire property near Toshka in southern Egypt, according to sources who spoke on the condition of anonymity.
According to one source, a transaction might include the purchase or long-term leasing of 500,000 feddans (210,000 hectares) in stages. The second source stated around half that amount of land.
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