Endowment and Minors’ Trust Foundation has signed long-term investment agreements with several real estate development companies to build new endowment projects valued at AED200 million. The proceeds from these developments will support mosques across Dubai and strengthen their long-term financial sustainability.
The new projects will be located in Al Aweer and Wadi Al Amardi and will include integrated commercial complexes. Additionally, the agreements allow the participating companies to manage the investments for a 20-year period. As a result, the developments are expected to generate an annual return of around 10 percent, supporting the sustainability of the waqf system and expanding its community impact.
Strategy to Strengthen Real Estate Endowments
Ali Al Mutawa, Secretary-General of Awqaf Dubai, said the agreements align with the foundation’s strategy to expand the real estate endowment system and secure stable financial resources for mosques.
Al Mutawa said, “Signing these contracts forms part of Awqaf’s strategy to strengthen the real estate endowment system in Dubai and provide sustainable financial resources to support the emirate’s mosques.”
Moreover, he noted that the foundation aims to cooperate with developers who follow best investment practices. Consequently, the partnerships are expected to deliver stable and sustainable returns while supporting the continued funding of endowment initiatives and related humanitarian and community services.
Expanding Partnerships with the Private Sector
Furthermore, the initiative reflects efforts to broaden collaboration between the endowment sector and private developers. Al Mutawa added that this integration between investment and endowment activities helps ensure long-term financial sustainability while meeting the needs of mosques and the wider community.
Additionally, the foundation continues to focus on developing innovative real estate endowment models. Therefore, these projects combine investment activity with community development, promoting a stronger culture of endowment while generating measurable economic and social impact.
