The global operations of Pegasus Food Futures. The farms it has already constructed are in Oman, Dubai, Saudi Arabia, Abu Dhabi, and Bahrain.
Pegasus Food Futures acquires new farms in the UAE and Portugal
2017 has been an exciting year for Pegasus Food Futures, as we acquired farms in Abu Dhabi, Ras-Al-Khaimah and two sites in Portugal
We recently secured 3.5 hectares of existing farmland in Al-Ajban, where we 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, we have pre-allocated over 50% of the A-Frames to existing investors from our Oman farm.
As of November 2017, seventy hectares of existing farm land and greenhouses have been acquired in Ras Al-Khaimah. We plan to develop this land into our Agricultural City, which will include a Hydroponics Discovery and Educational Centre, a pre-packaging facility for our mixed salad bags and a research and development facility. Our greenhouses will grow a diverse mix of produce such as lettuce, tomatoes, beans, peppers, herbs and other salad items. We anticipate that our first greenhouse will be in production during the first quarter of 2018.
Finally, we have secured two farm sites in Portugal. We will give you a further update on the progress of these projects in our next newsletter.