Manama, Kingdom of Bahrain: Bahrain Mumtalakat Holding Company B.S.C (c) (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, announced today, during the 2nd edition of the Gateway Gulf Forum organised by the Bahrain Economic Development Board (EDB),  an agreement with the Ministry of Finance and National Economy to fully transfer Bahrain Agriculture Development Company (Gheras) to Mumtalakat’s wholly owned subsidiary, Bahrain Food Holding Company (BFHC). The transfer aims to accelerate growth and innovation in the Bahraini agri-food sector to further support the Kingdom of Bahrain’s commitment to improve national food security.

Founded in 2021 by Royal Decree, BADC (Gheras) is a pioneering entity focused on advancing Bahrain’s agricultural capabilities through sustainable practices, such as hydroponic farming, to support local crop production. Earlier this year, BADC inaugurated a landmark hydroponics project in Hoorat Aali underscoring BADC’s role in meeting local demand for fresh produce. 

BFHC was established earlier this year to serve as Mumtalakat’s central entity for consolidating food-related assets. Today’s announcement marks BFHC’s first major initiative since its inception and aims to broaden its portfolio, which already comprises Bahrain Flour Mills, General Poultry Company and Delmon Poultry Company, to include sustainable farming technologies aligning with Mumtalakat’s vision to increase sustainable local food production and enhance food security.  

Commenting on the announcement, the Minister of Municipalities Affairs and Agriculture, Chairman of Gheras, stressed the Kingdom’s commitment to supporting programs and initiatives aimed at developing the agricultural sector. He noted that this transfer will further support the sustainability of local produce, in line with the set national goals in the field of food security.

For his part, Basim Mohamed AlSaie, Chairman of BFHC said: “The integration of BADC within BFHC’s existing portfolio strengthens our position across the food value chain, directly aligning with our strategy to support Bahrain’s economic and sustainability objectives. By enhancing domestic agricultural production and reducing reliance on imports, we are committed to fostering high-quality local output that contributes to Bahrain’s food security and sustainable growth.”

By combining resources, expertise, and a shared commitment to sustainable practices, BFHC and BADC are poised to set a new standard for local food production, reducing reliance on imports and contributing to Bahrain’s long-term economic resilience. The transaction further aligns with Mumtalakat’s strategy to optimize, enhance, and grow its portfolio to achieve sustainable, long-term financial returns and support Bahrain’s enhanced economic dynamism.

About Mumtalakat:

Mumtalakat is the sovereign wealth fund of the Kingdom of Bahrain. With a mandate to grow the wealth of Bahrain through long-term investments based on sound financial, strategic and governance principles, Mumtalakat holds stakes in over 50 commercial enterprises with a portfolio spanning a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, logistics, consumer products, healthcare and education.

Further details on Mumtalakat can be found at www.mumtalakat.bh

For more information, please contact:
e-mail: communications@mumtalakat.bh