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| 13 May, 2018

SEED Agriculture to set up a state-of-the-art hydroponic farm at RAKEZ

To establish the largest hydroponic farm in Ras Al Khaimah.

SEED Agriculture to set up a state-of-the-art hydroponic farm at RAKEZ

RAS AL KHAIMAH: SEED Agriculture, a leading innovator in agriculture methods and technology under Pegasus Food Futures, has today signed an agreement with Ras Al Khaimah Economic Zone (RAKEZ) to acquire a total of 670,000 m2 land where it is set to establish the largest hydroponic farm in Ras Al Khaimah.

The signing ceremony was held at RAKEZ’s headquarters in the presence of His Highness Sheikh Ahmed bin Saqr Al Qasimi, Chairman of RAKEZ, and Mahmood Almas, Chairman of Pegasus Food Futures. Located in Al Ghail area, the land will be used to grow crops in water, without the use of soil.

Commenting on why RAKEZ was chosen to establish SEED Agriculture, which was formed from the team of Pegasus Food Futures, the company’s Group CEO, James Ellender, said: “Ras Al Khaimah is strategically positioned within the UAE to serve the emirates and the wider GCC with fresh produce. Our decision to work with RAKEZ is based on a common goal of committing to food security and sustainability within the region and we see that this will present a fantastic opportunity for consumers as we build out our hydroponic farming hub.”

Ramy Jallad, Group CEO of RAKEZ, warmly welcomed the company, saying: “It is my pleasure to warmly welcome SEED Agriculture to RAKEZ. Ras Al Khaimah has always been integral to the agricultural development in the United Arab Emirates (UAE) and with SEED joining, the emirate’s agriculture legacy continues. We’re proud to have SEED aboard with us and we’re confident that the broad range of solutions we offer within our ecosystem will help support the company’s mission of reducing the country’s dependency on imported food. Not to mention, RAKEZ promotes a collaborative culture wherein B2B partnerships are encouraged – from this SEED Agriculture gets access to a wide network of agriculture suppliers and traders.”

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The hydroponic farming hub is expected to launch on the last quarter of 2018 where it will produce a fresh selection of leafy greens, tomatoes, cucumbers, peppers, herbs, soft fruits and berries for the rest of the region.

-Ends-

Media Contact:

Cleo Eleazar                                                          

Senior Manager – Public Relations & Events

Ras Al Khaimah Economic Zone (RAKEZ)

Phone: +971 7 2077173

E-mail: c.eleazar@rakez.com 

About Ras Al Khaimah Economic Zone (RAKEZ):

Ras Al Khaimah Economic Zone (RAKEZ) is an authority established by the government of Ras Al Khaimah to oversee, regulate and consolidate the services, facilities and zones of Ras Al Khaimah Free Trade Zone (RAK FTZ) and Ras Al Khaimah Investment Authority (RAKIA), and serves their respective clients. Established in 2017, RAKEZ builds on 17 years of consistent value generation by RAK FTZ and RAKIA.

RAKEZ offers its clients easy access to local markets of the UAE, in addition to growing markets of the Middle East, North Africa, Europe, and South and Central Asia.

The authority offers free zone and non-free zone licences through RAK FTZ and RAKIA for companies operating in diverse industry sectors including, manufacturing, consulting, trading, logistics, academic, media and many more.

RAKEZ currently hosts over 13,000 companies from entrepreneurs and startups to SMEs and manufacturers covering over 50 industries from over 100 countries. Through its five specialised zones including RAKEZ Business Zone, Al Hamra Industrial Zone, Al Ghail Industrial Zone, Al Hulaila Industrial Zone and RAKEZ Academic Zone, it offers a wide range of customisable and cost-effective solutions for existing clients and potential investors. All clients have access to three local offices in Ras Al Khaimah, Dubai and Abu Dhabi, and international offices in India, Turkey and Germany.

A leading economic zone, RAKEZ, aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.

© Press Release 2018