The Awqaf and Minors Affairs Foundation in Dubai has officially launched the “Bonyan Al-Khayr” initiative in collaboration with the Mohammed bin Rashid Housing Foundation and the newspaper “Emarat Al-Youm.” This initiative aims to establish 22 endowment villas, with a total investment of 70 million dirhams—35 million dirhams allocated for land acquisition and an equal amount for construction costs. This accomplishment highlights the successful cooperation between government entities, the private sector, media organisations, and community members in transforming endowments into sustainable developmental assets that serve citizens and support deserving groups.
Official Launch Ceremony
The launch event was attended by key figures including Isa Al-Ghurair, Chairman of the Awqaf and Minors Affairs Foundation in Dubai, Ali Al-Mutawa, the foundation’s Secretary-General, Mohammed Al-Shahi, Executive Director of the Mohammed bin Rashid Housing Foundation, Abdullah Al-Shahi, Executive Director of the Real Estate Regulatory Agency, Ravi Menon, Chairman of Shoba Group, Saud Al-Derbi, Head of Newspapers and News Center at Dubai Media, and Ibrahim Shukrallah, Editor-in-Chief of “Emarat Al-Youm.” Various officials and stakeholders were also present.
Details of the Initiative
During the launch, the “Shoba” endowment, comprising 11 endowment villas with a construction cost of 25 million dirhams, was inaugurated. These villas are located in diverse areas including Nad Al-Sheba, Al-Wasl, Al-Warqa, Al-Rashediya, Al-Qusais, and Oud Metha. This expansion enhances the geographic distribution of endowment assets and ensures sustainable resources support the initiative’s objectives.
The “Bonyan Al-Khayr” initiative aims to direct the revenue generated from endowments to assist citizens with low incomes, modest families, and humanitarian cases that do not meet the criteria for housing services. This strategy underscores the role of endowments in addressing social and housing priorities while ensuring a sustainable resource that extends its impact into the future.
Contributions and Commitments
Isa Al-Ghurair remarked that Shoba’s support for “Bonyan Al-Khayr” exemplifies the private sector’s role in enhancing community partnerships and contributing to initiatives that achieve a sustainable impact. He emphasised that endowments are a model of ongoing generosity that benefits the community.
Ali Al-Mutawa, the foundation’s Secretary-General, stated that the success of the “Bonyan Al-Khayr” initiative marks a significant milestone in the development of endowments aimed at serving the community. He praised the ability of institutional partnerships to transform community initiatives into sustainable assets with long-term impact.
Moreover, he noted that the initiative reflects the foundation’s vision of aligning endowments with community needs, creating real estate assets whose revenue supports low-income families and humanitarian cases. He reiterated the strategic importance of public-private partnerships in diversifying endowment assets and enhancing their capacity to provide stable, sustainable returns.
The Role of Housing Initiatives
Mohammed Al-Shahi, Executive Director of the Mohammed bin Rashid Housing Foundation, affirmed that the completion of “Bonyan Al-Khayr” underscores the vital role of institutional and community partnerships in promoting housing stability and improving the quality of life for Emirati families. He noted that the initiative serves as a model for community solidarity and sustainable solutions for deserving segments.
Saud Al-Derbi expressed pride in witnessing the “Bonyan Al-Khayr” initiative come to fruition, highlighting the launch of 22 endowment homes for low-income citizens three years after the initiative’s launch. He emphasised the importance of active participation in community and humanitarian initiatives that serve the nation and its citizens, reinforcing the media’s role as a significant partner in supporting sustainable initiatives.
Ibrahim Shukrallah added that “Bonyan Al-Khayr,” initiated in 2023, is a collaborative effort aimed at creating 22 endowment homes in Dubai for a total cost of 70 million dirhams. He remarked that the establishment of these endowments is a result of community engagement and the support from individuals and organisations operating in the country, embodying the spirit of solidarity and cooperation within Emirati society.
A Model for Sustainable Development
In conclusion, the “Bonyan Al-Khayr” initiative exemplifies a comprehensive model for directing endowment resources towards meeting community needs. It combines the development of sustainable real estate assets with the provision of continuous financial resources while fostering collaboration among government entities, the private sector, and media organisations, thereby supporting the continuity and impact of endowments in community development.
Isa Al-Ghurair:
• Shoba’s contribution reflects the private sector’s commitment to supporting impactful national initiatives.
Ali Al-Mutawa:
• Partnership with the private sector is essential for expanding and diversifying endowment assets.
Mohammed Al-Shahi:
• The Mohammed bin Rashid Housing Foundation supports initiatives that ensure dignified living conditions for citizens.
Saud Al-Derbi:
• Dubai Media is committed to participating in community and humanitarian initiatives.
Ibrahim Shukrallah:
• The inauguration of these endowments reflects the spirit of solidarity and cooperation that characterises the UAE community.
• 70 million dirhams as the total value of the “Bonyan Al-Khayr” initiative.