DOHA: Hassad, Qatar’s premier investor in food and agribusiness sectors announced yesterday that it continues the strategic repositioning of its Australian agricultural investment activities, securing an agreement, which will see the transition of Hassad’s investments to Macquarie Infrastructure and Real Assets “MIRA” agricultural portfolio.
This decision is in line with Hassad’s strategic review, and achieves its objective to broaden its agricultural investments across a significantly larger and more diversified Australian farming portfolio.
On this occasion, Mohamed bin Badr Al Sadah (pictured), Hassad’s CEO said, “Under this agreement, Hassad Australia’s portfolio will be merged with MIRA’s agricultural portfolio. This investment will enable Hassad to maintain its long-term commitment to Australian primary production. It also allows Hassad to continue to benefit from the agricultural sector’s favourable thematics”.
Al Sadah added, “This agreement will also reinforce Hassad’s strategy, aimed at supporting the country’s food security efforts - Thus, Hassad will supply the local market with meat products in case of shortage or need”.
The transition of the significant majority of farms to MIRA’s agricultural portfolio is expected to be completed before the end of September 2018.
As for the on-farm management teams on the properties, they will be offered continued employment. MIRA’s agricultural business will continue to build its regional footprint and invest in those communities in which it operates, creating further employment opportunities in its key regional offices in Albury and Orange.
MIRA has a strong track record in Australian agriculture, farm management and commodity production, having built and managed its agricultural portfolio for more than 10 years. It manages more than four million hectares of farmland across Australia and is one of the country’s largest diversified farmers, providing Hassad with access to significant scale and expertise to enhance its future growth.
