NADEC to Buy SAR 85M Greenhouse Assets in Haradh

NADEC has signed a binding asset purchase agreement worth SAR 85 million to acquire a six-hectare high-tech greenhouse facility located in Haradh, in a move aimed at expanding local agricultural production.

The agreement covers the greenhouse structures, equipment, sub-systems, selected operational assets, and related supporting infrastructure situated within NADEC's premises in Haradh. The facility relies on hydroponic cultivation and advanced climate-control systems, and has been operational since 2022.

Under the deal, the handover of the assets to NADEC is targeted for the fourth quarter of 2026. Once completed, NADEC will operate the facility using its own production and distribution capabilities, with the seller providing support during the transition period.

The company plans to finance the acquisition through a combination of internal resources and commercial bank financing. The agreement is a binding asset purchase, distinct from an earlier separate arrangement covering roughly six hectares in Haradh that was structured as a 20-year lease.

For residents and consumers across the Kingdom, investments of this kind support locally grown produce and strengthen food supply resilience. High-tech greenhouses using hydroponics and climate control can grow fresh vegetables year-round while using less water, an important advantage in the region's climate.

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