Dubai launches food and agriculture technology city

The Dubai ruler said the development will triple the UAE’s food production. (Supplied)
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Updated 02 May 2021
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Dubai launches food and agriculture technology city

  • The new Food Tech Valley will feature research and development facilities to develop advanced farming technology

DUBAI: Dubai Ruler Sheikh Mohammed bin Rashid Al-Maktoum has launched a specialized zone that will help the UAE achieve its food security goals.
The new Food Tech Valley will feature research and development facilities to develop advanced farming technology, and incubate innovative agribusiness ideas.
The Dubai ruler said the development will triple the UAE’s food production.
“We launched the first phase of Food Tech Valley, a new modern & vibrant city that will serve as a global destination for start-ups and industry experts in the food ecosystem,” he said on Twitter.
“It will host R&D facilities, innovation center, smart food logistics hub and areas for vertical farming,” the UAE leader added.
The UAE’s food trade exceeds 100 billion dirhams ($27.2 billion) annually, he said, describing the Gulf country as a global food logistics hub.
The Gulf region has been exploring ways to improve sustainability in regards with food production.

 


Closing Bell: Saudi main index climbs to 10,485 

Updated 21 December 2025
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Closing Bell: Saudi main index climbs to 10,485 

RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Sunday, gaining 34.32 points, or 0.33 percent, to close at 10,484.59. 

The total trading turnover of the benchmark index stood at SR2.59 billion ($690 million), with 168 listed stocks advancing and 87 declining. 

The Kingdom’s parallel market Nomu also gained 100.37 points to close at 23,454.65. 

The MSCI Tadawul Index advanced by 0.13 points to 1,377.44. 

The best-performing stock on the main market was Nama Chemicals Co., whose share price increased by 9.98 percent to SR22.38. 

The share price of Al Masar Al Shamil Education Co. rose by 9.15 percent to SR23.85. 

Saudi Paper Manufacturing Co. also saw its stock price climb by 8.42 percent to SR57.95. 

Conversely, the share price of Canadian Medical Center Co. dropped by 6.37 percent to SR6.03. 

The stock price of Kingdom Holding Co. also declined by 3.16 percent to SR8.28. 

In the parallel market, Alfakhera for Mens Tailoring Co. was the top performer, with its share price advancing by 16.40 percent to SR8.80. 

On the announcements front, Theeb Rent a Car Co. said it had signed a long-term vehicle leasing services contract valued at SR110.4 million with Hungerstation Co. 

Under the deal, Theeb will lease 2,000 vehicles to HungerStation for a period of four years starting from 2026, according to a Tadawul statement. 

The statement added that the vehicles will be delivered in batches within the first six months from the contract start date, taking into consideration global logistical circumstances and procedures beyond the control of both the agents and the company. 

The contract is expected to have a positive impact on the company’s financials from the first quarter of 2026. 

The share price of Theeb Rent a Car Co. declined by 0.79 percent to SR37.80.