Riyadh — Mubasher: National Agricultural Development Company (Nadec) has signed a binding agreement to acquire high-tech greenhouse assets from Pure Harvest Smart Agricultural Farms for a total transaction value of SAR 85 million, according to a bourse filing.
Upon a transaction entered on 24 August 2026, the acquisition involves a six-hectare facility located within Nadec’s existing complex in Haradh, which utilizes hydroponic systems and climate-control technologies for year-round tomato production.
The facility has been operational since 2022. Under the terms of the agreement, the handover of the assets is scheduled for the fourth quarter (Q4) of 2026, with a specific target date on or around 1 November 2026.
Nadec intends to fund the SAR 85 million purchase through a combination of internal cash resources and commercial bank financing.
Completion of the deal remains subject to regulatory approvals and the termination of existing lease and utility service agreements between the two parties.
Meanwhile, Nadec expects to commence full management and operation of the facility during Q4-27.
The company anticipates the financial impact of the acquisition will begin to manifest gradually starting from the second half (H2) of 2027.
