Dubai’s Endowments and Minors’ Trust Foundation (AWQAF Dubai) has unveiled plans for 21 new real estate endowment projects worth over AED202 million ($55.4 million). These initiatives align with Dubai’s broader commitment to expand and diversify endowment investments while supporting the goals of the Dubai Plan 2033.
Project Overview Of AWQAF :
- Scope of Projects: The endowment projects include a diverse array of developments such as malls, residential buildings, shops, and mosques. AWQAF Dubai is currently designing and implementing these projects, with completion expected within one to two years.
- Purpose and Impact: The projects serve multiple purposes, including educational and humanitarian buildings, charitable contributions, and mosque endowments. They aim to enhance community services and fulfill the needs of residents in emerging neighborhoods, thereby contributing to Dubai’s sustainable development goals.
- Strategic Locations: The developments are strategically positioned in key areas of central Dubai, ensuring that they cater to the growing demands of the city’s population.
Leadership Vision:
Ali Al Mutawa, Secretary-General of AWQAF Dubai, emphasized that the endowment projects closely align with Dubai’s long-term sustainable development plans, which Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has outlined. Furthermore, these initiatives aim to foster community well-being and support the emirate’s vision for a prosperous and sustainable future.
Innovative Design and Sustainability:
The new projects are notable for their modern elements, including green building features and contemporary architectural designs. Moreover, AWQAF Dubai has strategically positioned the developments in key areas of central Dubai to cater to the growing demands of the city’s population.
Completion Timeline:
AWQAF Dubai expects to complete several of the 21 projects by the end of 2024, while the majority will complete by mid-2025. Therefore, AWQAF Dubai commits to executing these projects on time and ensures they meet the high standards expected by donors and the community.
