The Saudi Public Investment Fund (PIF) has established Al Madinah Heritage Company (MHC), to improve the quality and production capacity of Ajwa dates in the Madinah region.
The launch of the new company will help further develop the Saudi Food and Agriculture industry and drive the diversification of Saudi Arabia’s economy, in line with Vision 2030.
Ajwa dates are widely regarded as one of the best dates in the world, owing to their high nutritional value and health benefits. Furthermore, Ajwa dates have religious and cultural significance in the Arab world, particularly for visitors to the Madinah region.
PIF has made strategic investments in the food and agriculture sectors to help diversify the local economy and promote its distinctive produce industries. Among these investments are the Saudi Coffee Company, which promotes Saudi Khulani coffee, the Halal Products Development Company, which focuses on the halal products industry, and the Saudi Agricultural Investment and Livestock Production Company (SALIC).
Majed Al Assaf Head of Consumer Goods & Retail MENA Investments Division, PIF
“Saudi Arabia is one of the world’s most prominent producers and exporters of dates, and its products have always been of the highest quality, catering to wide consumer demand. The dates industry is a key component of Saudi Arabia’s Food and Agriculture sector and has an important role to play in the realization of Vision 2030.”
MHC will focus on promoting and distributing Ajwa dates both locally and globally, as well as other date varieties, to meet expanding global demand. Through the utilization of bespoke agricultural technologies, the company will also contribute to the overall development of sustainable agriculture in Madinah.
The establishment of Al Madinah Heritage Company demonstrates PIF’s commitment to enabling the Food and Agriculture sector, one of the promising sectors in Saudi Arabia that can support the diversification of the Saudi economy. The company will seek to increase the production and quality of Ajwa dates and will enhance the promotion and distribution of its products, helping to expand the reach of Ajwa dates.
