The Dubai-based Endowments and Minors’ Trust Foundation (AWQAF) has unveiled plans for 21 endowment real estate projects, collectively valued at over Dh202 million. These projects span across malls, residential buildings, shops, and mosques, all of which are in different phases of design and construction.
The endowment real estate initiatives are multifaceted, involving educational and humanitarian structures, general charitable donations, and endowments for mosques. Financing for these projects comes from contributions and donations by endowment supporters, as well as from the reconstruction portfolio. AWQAF Dubai has indicated that the construction period for these 21 projects will vary from one to two years. The developments are situated in prime locations within central Dubai.
There are plans to establish endowment malls in growing residential areas to improve community services and cater to the needs of local residents. These projects are in line with Dubai’s strategy to broaden and diversify its endowment investments, supporting the social and economic goals outlined in the Dubai Plan 2033. Several of the 21 planned endowment projects are anticipated to be finished by the end of 2024, with most expected to be completed by mid-2025.
