Nakheel Palestine for Agricultural Investment

Nakheel is the most significant entrepreneurial project in the Palestinian agriculture sector, specializing in the production and sale of Medjool dates. In early March 2011, guided by our commitment to contribute to the development of Palestinian economy, Siraj Fund acquired a 30% stake in Nakheel Palestine for Agricultural Investments. The agricultural sector in Palestine is a job and income generator promoting social stability, economic growth, and environmental sustainability; the dates farming industry in particular is a promising investment, with huge growth potential. Dates farming industry specifically employs predominantly landless and poor peasants in the Jericho area and due to its seasonal nature, it often offers a secondary source of income to many people throughout the year. Nakheel currently owns a total of six date farms, stretched along an area of 3,000 Dunums (300 hectares). Within two years of Siraj’s Investment, Nakheel’s farms had over 24,500 trees, and the company managed to export more than 600 tons of Medjool dates to several countries such as Turkey, Indonesia, Dubai, Russia, and UK. In 2013, Nakheel was awarded two Golden Stars for the Superior Taste Award 2013 from the International Taste and Quality Institute.

Siraj’s investment provides Nakheel with the opportunity to capitalize on economic development, allowing it to capture the local and a portion of the international market through introducing high quality Palestinian brands into local and international markets. Siraj’s commitment was used to fund the planting of date farms, purchase of existing farms, financing the buildup of the farms’ infrastructure (wells, water networks, etc.), provision of needed working capital, and the addition of a packing house business line. The Fund recognizes that start-ups such as Nakheel require more guidance and hands-on involvement; therefore, Siraj has been and will continue to work closely with Nakheel to develop their expansionary business strategy and to maximize revenue for the company, thus increasing Siraj’s investment return.