Awqaf Dubai has unveiled plans for 21 endowment real estate projects, valued at over AED 202M ($55.4M).
The Endowments and Minors’ Trust Foundation in Dubai (AWQAF Dubai) confirmed that these developments align with Dubai’s broader strategy to diversify endowment investments and support the Dubai Plan 2033’s social and economic objectives.
The projects, currently in various design and implementation phases, include malls, residential buildings, shops, and mosques.
These endowment projects serve multiple purposes, such as educational and humanitarian buildings, charitable contributions, and mosque endowments.
AWQAF Dubai noted that construction timelines for the 21 projects range from one to two years, with strategic locations in central Dubai.
Plans include establishing endowment malls in emerging residential areas to enhance community services and meet residents’ needs.
Ali Al Mutawa, Secretary-General of AWQAF Dubai, stressed that these endowment projects align with Dubai’s sustainable development goals and the Dubai Plan 2033.
The initiatives adhere to Sheikh Mohammed bin Rashid Al Maktoum’s vision, aiming to foster community well-being and maintain high living standards, following his directives for sustainable development.
Al Mutawa emphasised AWQAF Dubai’s dedication to timely project completion and its continuous efforts to introduce new endowment initiatives.
These projects aim to support Dubai’s sustainable development goals while maximising returns on endowment investments, consistent with donor intentions.
Some of the 21 projects are anticipated to be completed by the end of 2024, with most ready by mid-2025.
Al Mutawa also highlighted the incorporation of modern elements in these developments, such as green building features and contemporary architectural designs, which aim to deliver high levels of luxury and construction quality. These efforts demonstrate AWQAF Dubai’s commitment to enhancing its performance and contributing to a prosperous, sustainable future.