News

Dubai’s Food Tech Valley & ReFarm Plan Hi-Tech Gigafarm

The “vertical farm” venture is expected to be operational by 2026 and will be capable of replacing 1% of UAE fresh produce imports.

Published

3 years ago

December 8, 2023

Nour Nasir

ReFarm

Food Tech Valley, a Dubai-based technology center designed to address food security, has entered a partnership with the ReFarm group to build a gigafarm capable of growing over three million kilograms of produce annually.

The project, which starts in mid-2024, aims to help decarbonize UAE food production, replacing 1% of the country’s fresh produce imports. Both parties signed an agreement at this year’s COP28, which should see the 83,612-square-meter farm becoming fully operational by 2026.

As well as producing vast quantities of food, the high-tech farm will be capable of recycling over 50,000 tons of food waste each year while growing two billion plants.

“Rethinking our food production systems is a clear priority, and the decision of ReFarm to launch a facility in Dubai’s Food Tech Valley is a significant step forward for the development of a technologically advanced, low-carbon agricultural sector,” said Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade.

The gigafarm will be split into four zones: Agritech and engineering, food innovation, research and development, and smart food logistics. In addition, the site will become a closed-loop circular waste-to-value system, maximizing resources and preventing waste from entering landfills by creating organic compost.

Also Read: Abu Dhabi’s Hub71 To Help Climate Technology Startups

“This is one of many transformative projects which is set to be part of Food Tech Valley, which will have a significant impact on the UAE’s food security, maximizing the use of precious resources and decarbonizing the food supply chain,” explained Hesham Al Qassim, chief executive of Wasl Asset Management Group, which is developing the project alongside the Ministry of Food and Water Security.

Technologies used at the gigafarm are expected to recover 90% of the ammonia sulfate from wastewater, and no mains or groundwater connection will be required for the vertical farm to produce fresh produce. Developers claim the site will be 98% more efficient than traditional field-based farming.

News

Visa’s Return To Syria Starts With A Test And A Bank In Lebanon

Foreign visitors will be the first users to benefit, but whether Syria’s own banks and cardholders follow is still an open question.

Published

2 weeks ago

August 27, 2026

Dana Saadeh

visa's return to syria starts with a test and a bank in lebanon

Visa is returning to Syria. Its first live international card transaction in the country was a test rather than a launch, and the milestone event ran through a Lebanese bank.

The acquirer (the bank on the merchant’s side of a card payment) was Fransabank Lebanon, with Paymera as the other named partner. Nadim Moujaes, who heads a Fransabank Group subsidiary, describes the test as both the culmination of “longstanding efforts to link Syria back to international payment networks” and “the first step in a larger path”.

Syrian President Ahmed Al-Sharaa makes the first electronic payment in Syria using a @Visa card at a store in Damascus, following the lifting of US sanctions on Syria. pic.twitter.com/lpAN7nQ6Fc

— Tech Magazine (@TechMGZN) August 27, 2026

“We are excited to have successfully tested live transactions today as we plan to enable international visitors to use their Visa cards while in Syria,” says Leila Serhan, Visa’s senior vice president and group country manager for the North Africa, Levant and Pakistan region. Although a significant first step, that plan doesn’t come with a hard date for when a visitor’s card will work normally.

Mohammed Safwat Raslan, governor of the Central Bank of Syria, says the test paves the way for international card acceptance in Syria and that maintaining strong compliance, risk management and operational controls will remain essential. Serhan likewise stresses that Visa has worked within applicable legal, regulatory and compliance requirements. For a test transaction, it seems there was a great deal of attention paid to the rules, with the entire operation being carefully managed.

Also Read: Lebanon’s 5G Era Begins With 150 Stations And A $1M Budget

The test is the latest step in a sequence that began in December 2025, when Visa announced a strategic roadmap to support Syria’s integration into the global digital economy. In February 2026 it hosted its first industry gathering of banks, ecosystem partners and policymakers in Damascus and, the same month, signed an agreement with Syria’s Ministry of Communications and Information Technology in San Francisco.

Michel Kattouah, Paymera’s CEO, called the test “the return of international card acceptance,” but while that’s positive news, there’s no word yet on when a Syrian bank will issue a Visa card to a Syrian customer.