AWQAF Dubai to Add 21 New Properties Worth AED 202M to Endowment Portfolio

Photo : Dubai Government Media Office

In a strategic move to advance Dubai's commitment to expanding and diversifying endowment investments, the Endowments and Minors’ Trust Foundation in Dubai (AWQAF Dubai) has unveiled plans for 21 new real estate endowment projects. Valued at over AED 202 million, these developments will include malls, residential buildings, shops, and mosques, with various stages of design and implementation already underway.

These new endowment projects are intended to serve multiple purposes, ranging from educational and humanitarian buildings to general charitable contributions and mosque endowments. The funding for these projects comes from contributions and donations from endowment backers, supplemented by the existing reconstruction portfolio.

The construction timelines for these projects span from one to two years, with the developments strategically positioned in key areas of central Dubai. Among the planned projects are endowment malls in emerging residential neighborhoods, designed to enhance community services and cater to the needs of local residents.

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His Excellency Ali Al Mutawa, Secretary-General of AWQAF Dubai, emphasized that these projects are in harmony with Dubai’s sustainable development objectives and the Dubai Plan 2033. The initiatives reflect the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, aiming to foster community well-being and elevate living standards in line with Sheikh Mohammed’s goals for sustainable development.

HE Al Mutawa further highlighted AWQAF Dubai’s dedication to completing these projects within the stipulated timelines and its ongoing efforts to launch new endowment initiatives. The projects are designed to support Dubai’s sustainable development goals and maximize returns on endowment investments, adhering to the objectives set by donors.

Some of these 21 endowment projects are anticipated to be completed by the end of 2024, with the majority expected to be finished by mid-2025. The developments will feature modern elements, including green building technologies and contemporary architectural designs, reflecting AWQAF Dubai’s commitment to delivering high-quality and luxurious endowment properties. These projects are set to contribute significantly to Dubai's prosperous and sustainable future.