SOUTHERN BADIA, Iraq: On a former battlefield of the 1991 Gulf War, deep in Iraq’s southern desert, a Kuwaiti investor is looking to grow 100,000 date palms and build a nature reserve complete with ostriches and deer.
Few Kuwaiti firms have returned to do business in Iraq since Saddam Hussein’s 1990 invasion of its smaller neighbor and its UN-led liberation a year later.
But businessman Abdul-Aziz Al-Babtain is pouring $58 million into a date farm project in southern Badia, some 150 km from the port city of Basra, officials said.
“We hope to have 100,000 (trees) in the next five to six years,” said Diyah Sharadeh, Babtain’s representative in Iraq, adding that the dates would first be sold in Iraq and later exported.
So far 5,000 date trees have been planted.
Iraq once produced three-quarters of the world’s output of dates but now accounts for 5 percent after decades of conflict, despite being home to around 350 types of date tree.
Babtain had begun the farm in the 1980s, a sign at his office shows.
But Iraq seized it after the 1990 invasion, and due to its proximity to the Kuwaiti border it turned the area into a military zone, digging trenches for heavy guns.
These were then bombed in air strikes as part of Kuwait’s liberation campaign, but authorities never cleaned up the trenches, leaving bullets and parts of tank turrets rusting away just outside the field.
In a bid to turn a new leaf, Iraq returned the farm to Babtain and granted his business tax exemptions.
“This will be the first private (date) investment project in Iraq,” said Ali Ghasseb, head of the Basra Investment Commission. “It was a farm, then became a battlefield and is now again a farm.”
The farm has created some 50 jobs in this desolate area and will need up to 500 workers once the trees begin producing.
In a second step, Babtain plans to set up a natural reserve for which ostriches and deer will be imported, Sharadeh said.
THAW
Ties between Kuwait and Iraq remained strained, but they have improved since the US-led invasion in 2003 that toppled Saddam Hussein, with the Gulf state hosting in February a donor conference to rebuild Iraq.
But Kuwaiti firms have been reluctant to return, demanding guarantees that their business will not be taken away again. There is only one other Kuwaiti investor in Basra, involved in a shopping mall, Ghasseb said.
But trade has picked up in recent years as foreign firms use Kuwait’s port to ship goods to Iraq due to its better security. Up to 200 vehicles cross the border at the Safwan post every day, an Iraqi officer said.
Kuwaiti visitors are also trickling back to the Shiite Muslim holy cities of Najaf and Kerbela. A third of Kuwaitis are Shiites.
In the other direction there is little private traffic as Kuwait rarely grants visitor visas for Iraqis for security reasons.
“I come twice a year. There are no problems for Kuwaitis now,” said a Kuwaiti who gave his name as Mohamed after crossing the border to make a pilgrimage to Nawaf.
On former battlefield, Kuwaiti investor plans date palm groves, ostrich and deer reserve
On former battlefield, Kuwaiti investor plans date palm groves, ostrich and deer reserve
Closing Bell: Saudi main index closes higher at 10,596
RIYADH: Saudi equities closed higher on Tuesday, with the Tadawul All Share Index rising 43.59 points, or 0.41 percent, to finish at 10,595.85, supported by broad-based buying and strength in select mid-cap stocks.
Market breadth was firmly positive, with 170 stocks advancing against 90 decliners, while trading activity saw 161.96 million shares change hands, generating a total value of SR3.39 billion.
Meanwhile, the MT30 Index closed higher, gaining 6.52 points, or 0.47 percent, to 1,399.11, while the Nomu Parallel Market Index edged marginally lower, slipping 3.33 points, or 0.01 percent, to 23,267.77.
Among the session’s top gainers, Al Masar Al Shamil Education Co. surged 9.99 percent to close at SR26.20, while Saudi Cable Co. jumped 9.98 percent to SR147.70.
Cherry Trading Co. rose 4.18 percent to SR25.44, and United Carton Industries Co. advanced 4.09 percent to SR26.46.
Al Yamamah Steel Industries Co. also posted solid gains, climbing 4.07 percent to end at SR32.70.
On the downside, Emaar The Economic City led losses, slipping 3.55 percent to SR10.32, followed by Derayah REIT Fund, which fell 2.92 percent to SR5.31.
Derayah Financial Co. declined 2.13 percent to SR26.62, while United International Holding Co. retreated 1.96 percent to SR155.20, and Gulf Union Alahlia Cooperative Insurance Co. eased 1.92 percent to SR10.70.
On the announcements front, Red Sea International Co. said it signed a SR202.8 million contract with Webuild S.P.A. to provide integrated facilities management services for the Trojena project at Neom.
The agreement covers operations and maintenance for the project’s Main Camp and Spike Camp, including accommodation and housekeeping, catering, security, IT and communications, utilities, waste management, fire safety and emergency response, as well as other supporting services.
The contract runs for two years, with the financial impact expected to begin in the first quarter of 2026. Shares of Red Sea International closed up 0.99 percent at SR34.74.
Al Moammar Information Systems Co. disclosed that it received an award notification from Humain to design and build a data center dedicated to artificial intelligence technologies, with a total value exceeding 155 percent of the company’s 2024 revenue, inclusive of VAT.
The contract is expected to be formally signed in February 2026, underscoring the scale of the project and its potential impact on the company’s future revenues.
MIS shares ended the session 2.82 percent higher at SR156.70, reflecting positive investor sentiment following the announcement.













