Dubai’s Endowment Assets Reach AED 11.1 Billion, Says Hamdan bin Mohammed

Photo: Dubai Government Media Office

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence of the UAE, and Chairman of the Executive Council of Dubai, said that Dubai is dedicated to improving its leadership in the field of endowments and expanding community-based service endowments. He gave credit for this success to the vision and guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai.

His Highness made these remarks while meeting a delegation from the Endowments and Minors’ Trust Foundation in Dubai (AWQAF Dubai) along with several important donors. The meeting also had the presence of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, the Second Deputy Ruler of Dubai.

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During the meeting, Sheikh Hamdan praised AWQAF Dubai for its efforts to expand endowments and for strengthening the role of endowments in supporting community development. He also honoured several donors for their contributions to endowment projects that help community initiatives, support development plans, and improve the lives of people with low income.

During this meeting, Sheikh Hamdan announced that the value of endowment assets in Dubai had increased to AED 11.1 billion in 2024, showing a 9% growth compared to the previous year.

He said, “Dubai’s strategy to expand endowment assets has increased the total number of endowments to 1,043, while the number of donors has grown to 578.” Sheikh Hamdan added that the rise in endowment assets shows Dubai’s strong commitment to building a culture of giving, which is important for sustainable development. He also emphasized that Dubai continues to set an example of generosity, social solidarity, and encourages people and organizations to contribute to important areas like education, healthcare, and social welfare.

Sheikh Hamdan reaffirmed that Dubai will keep improving the endowment system by encouraging innovation and ensuring its sustainability to benefit future generations. He added, "We will continue to make Dubai a global hub for charitable work and humanitarian initiatives."

The Crown Prince of Dubai also highlighted how AWQAF Dubai is shaping the future of endowments through advanced technology and data-driven planning. He said, "Endowments are a key pillar in supporting education, healthcare, and social welfare. This reflects a vision based on sustainability and innovation.” He praised AWQAF Dubai for following global best practices and strengthening Dubai's position in the endowment sector, ensuring a lasting impact on society.

Sheikh Hamdan also praised the contributions of citizens, residents, and organizations to endowment projects, especially in education, healthcare, and scientific research. He acknowledged that AWQAF Dubai’s innovative approach to endowments allows organizations of all sizes to participate in community projects.

Additionally, Sheikh Hamdan noted the increasing role of women in endowment projects. He mentioned that the value of women’s endowment assets had reached AED 1.3 billion in 2024, showing a remarkable 99.96% growth compared to the previous year. He said, "This shows the strong awareness among women in the UAE about the importance of social responsibility and working together to make positive changes in society."

A report on Dubai’s endowment assets in 2024 showed that the total assets reached AED 11.16 billion. These assets are spread across different types of endowments, including 882 charitable endowments worth AED 6.9 billion, 113 family endowments worth AED 3.1 billion, and 48 joint endowments valued at AED 1.1 billion.

The report also revealed that real estate accounts for the largest share of endowments, with a value of AED 10 billion. This includes land, apartments, villas, shops, and buildings, making up 921 endowments. Financial assets, such as shares and commercial licenses, account for AED 1.1 billion across 122 endowments.

Men’s endowments were worth AED 6.2 billion across 689 endowments, while women’s endowments totaled AED 1.3 billion across 207 endowments. This shows that women are playing an important role in supporting the endowment sector. In total, 679 endowments worth AED 3.7 billion are managed by AWQAF Dubai, while 364 endowments, valued at AED 7.4 billion, are overseen by other organizations.

Issa Al Ghurair, the Chairman of the Board of Directors of AWQAF Dubai, stated that the increase in endowment assets shows the success of efforts to promote the idea of endowments in society. He said, "The rise in endowment assets shows the growing trust in our approach, which focuses on innovation and sustainability to ensure long-term impact across generations."

Al Ghurair emphasized that AWQAF Dubai remains committed to expanding the role of endowments in supporting community sectors like education, healthcare, and welfare. He also said that new initiatives would be launched to make sure endowment projects have a lasting, positive impact.

Ali Al Mutawa, the Secretary General of AWQAF Dubai, also spoke about the ongoing efforts to increase endowments in line with Dubai’s sustainable development goals. He said, "With the continuous support of donors, we have successfully increased the volume of endowment assets, directing them towards education, healthcare, orphan care, and other vital sectors."

He further explained that the use of data-driven planning and innovation has been key in developing a modern endowment system. "Through new endowment models and targeted projects, we ensure the sustainability of endowment contributions,” he said. "By embracing digital transformation and smart services, we have made it easier for people to contribute to endowments, improving transparency and efficiency in managing these assets."