Stephenson Harwood advises Badia Farms on Green Corp investment
Law firm Stephenson Harwood LLP has acted as legal counsel to UAE-based Badia Farms on its investment from Green Corp.
Established in 2016, Badia Farms is the Gulf Co-operation Council's (GCC) first commercial indoor vertical farming company; it supplies produce to high-end hotels, restaurants, and consumers across the GCC. Using sustainable farming techniques, Badia Farms produces nutritious fruits and vegetables without sunlight or soil. Its energy-efficient methods use up to 90% less water than traditionally grown crops, and have higher yields.
Green Corp was launched in Bahrain this year by Gulf Islamic Investments (GII), a leading Shari’ah-compliant global alternative investment company with more than US$3 billion of assets under management, as an agribusiness platform to initiate and develop sustainable agricultural, aquaculture, food processing and production projects across the GCC states.
Green Corp's investment will enable Badia Farms to expand its advanced production models and pesticide-free farms into Saudi Arabia and Bahrain, enhancing regional food production opportunities significantly.
"This is a significant transaction for the GCC, as well as the region's agricultural and sustainability sectors," said Diwakar Agarwal, partner, Stephenson Harwood. "It is part of a wider initiative to increase sustainable food production projects across the GCC, and this investment will help Saudi Arabia and Bahrain diversify their food sources, and become more self-sufficient and less dependent on food imports."