The Dubai Awqaf and Minors Affairs Foundation, in partnership with the Dubai Charity Association, has inaugurated a charitable endowment aimed at supporting underprivileged families. This initiative is part of their collaborative efforts to launch joint investment projects that will foster new growth opportunities within the endowment sector and enhance Dubai’s economic and social agenda.
The newly established endowment comprises four villas located in Jumeirah 1, with a total investment of 9 million dirhams. The building costs reached 5 million dirhams, while the land was valued at 4 million dirhams. The expected annual return on investment is around 10% of the project’s total value. This initiative reflects the ongoing efforts of Dubai Awqaf and the Dubai Charity Association to promote charitable activities and sustainable development in the emirate.
During the inauguration of the endowment, Ali Al-Mutawa, Secretary-General of the Dubai Awqaf and Minors Affairs Foundation, stated that the project was carried out under a strategic partnership agreement with the association. According to this agreement, Dubai Awqaf is responsible for constructing the residential villas on land registered under the “Sheikh Obaid bin Jumaa Al Maktoum Endowment,” while the Dubai Charity Association covered the construction costs. The project was completed over a span of 14 months.
Al-Mutawa emphasized that this endowment is a practical example of collaboration between charitable and endowment institutions. The rental income from the villas will be utilized to support underprivileged families and fund humanitarian, educational, and health initiatives carried out by the Dubai Charity Association.
He noted that this project adds significant value to the development portfolio managed by the foundation, representing a successful partnership with the Dubai Charity Association. The foundation is committed to establishing modern and sustainable endowment projects that enhance the capacity of charitable organizations to continue their work and support Dubai’s forward-looking vision for leadership in humanitarian services.
In his remarks, Ahmed Al-Suwaidi, Executive Director of the Dubai Charity Association, expressed pride in the collaboration with Dubai Awqaf, which has resulted in a residential charity project aimed at providing a decent living for underprivileged families and supporting beneficiaries of various programs.
He pointed out that the association aims to ensure its endowment contributions have a long-lasting impact on the community and achieve financial sustainability for its charitable initiatives.
Al-Suwaidi stated that this joint project embodies a new approach towards developing economically viable endowments and supporting sustainable institutional charitable work, thereby reinforcing Dubai’s role as a leading regional center for innovation in the humanitarian sector.