UAE’s Al Dahra in talks to buy land in Egypt

UAE’s agribusiness Al Dahra is now in talks to buy more agricultural land in Egypt, two informed sources said to Reuters on Tuesday.

This come as a deal that might reduce Cairo’s dependence on imports of staple crops.

The sources did not specify when exactly the deal is expected to take place.

Al Dahra is in talks with the Egyptian military’s National Service Projects Organisation (NSPO) via its subsidiary Al Dahra Egypt to buy land in Toshka in southern Egypt.

According to the sources, the company is also considering other areas.

Egypt is a top importer of basic commodities and has been trying to decrease its import bill to face the ongoing global inflation.

Al Dahra earlier told Reuters in a statement that it is working with stakeholders to find opportunities to expand in a sustainable way.

“Should new agreements or partnerships be established in Egypt, Al Dahra will announce (them) at an appropriate time,” the company said.