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Russian vertical farming firm iFarm announced that farms using the company's technologies are being built in Riyadh, Saudi Arabia, and Dubai.
The first one, with an area of 2,500 m², should be commissioned in September 2022 and will be capable of producing about 23 tons of food per month. The second, with an area of 746 m², is expected to be completed by the end of 2022.
After the construction is completed, the farms will be handed over to customers, who will be responsible for cultivation and sales. iFarm will also provide the Growtune SaaS platform for business management to the customers.
The company does not disclose the cost of the projects, but according to rough calculations based on the available data on company's website, a farm in the UAE can be valued at about $1.5 million.
iFarm is also negotiating building a vertical farm in Qatar in partnership with Agrico Organic Farm.
Previously, we reported that the world's largest vertical farm opened in Dubai.
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