Syria

Three new investment funds controlled by prominent Gulf investors will sink at least US$2.8 billion (Dh10.3 bn) into infrastructure, agriculture and hospitality projects in the Middle East and South Asia.

Al Qudra Holding, the Abu Dhabi-based investment company, plans to acquire roughly 400,000 hectares of land in the Middle East, East Africa and Far East by the end of the first quarter of next year in a major expansion of its agricultural operations.

The UAE and its food-importing neighbours are “particularly vulnerable” to spiralling costs and should make significant investments in “contract farming” in Africa and Asia, says the UN’s Gulf food chief, Dr Kayan Jaff.

A new joint strategy for agricultural investment will be launched by the GCC soon, it was announced in Bahrain yesterday.

Special Agricultural Consultancy between the Government of the Syrian Arab Republic and the Government of the Republic of Sudan (May 2002)