Its portfolio spreads across 135,000 hectares, all in eastern Australia. The land has the capacity to breed up to 180,000 head of sheep.
The five Victorian properties will add 7246 hectares of “prime agricultural land” to the Qatari government’s portfolio. Bydand Agricultural Management Services is establishing the portfolio, according to the AFR.
Hassad is reportedly eyeing the 2826 hectare Barton Station, near Moyston. The vendors of this property paid $11 million for it in 2008. They own another property, Banyandah Farm in the NSW Riverina.
Another Victorian property believed to be part of the Hassad transaction is the 1500 hectare The Morass farm.
A 1500 grazing property, Merimbula, and a 1610 hectare estate, Brierly, is also reportedly part of the Qatari government’s portfolio acquisition, according to the AFR.
Hassad Food chairman and managing director Nasser Mohammed Fhaid Al Hajri said it plans to invest in Australia for the long term.
“We think Australia is a big country and there is a lot of potential here.”
Early last year, Hassad paid about $25 million for the Kaladbro Estate in far western Victoria. It also bought the 125,300 hectare Clover Downs estate from Clyde Agriculture from $18.5 million.
Rural purchases to offshore investors worth less than $50 million do not need to be approved by the Foreign Investment Review Board.