The Abu Dhabi-based National Horticultural Company (NHC) has formulated a 10 million Emirati dirhams ($2.72 million) development scheme, by expanding the company’s farm area from five to 7.2 hectares by February-end.
The company, which currently control seven percent of the United Arab Emirates (UAE)’s Dh100 million a year flower and plants market, plans to raise its market share to 20 percent by 2006.
NHC is part of the Falcon group. It is 51 percent held by Al-Hamed Enterprises, Falcon’s parent company. The French Dassault company owns another 44 percent of NHC’s shares while the remaining five percent are owned by TCI.
NHC is engaged in the farming of flowers and vegetables in the UAE desert and is a wholesale supplier in the flower and vegetable retail industry. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
