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17 April 2024

MBRGI and Sobha Realty sign charitable grant agreement to establish AED400 million endowment university in Dubai

By E247

In the presence of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Vice Chairman of the Board of Trustees of the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), MBRGI and Sobha Realty signed a charitable grant agreement for the establishment of an endowment university in Dubai.

The agreement forms part of the Mothers’ Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to honour mothers by establishing an AED1 billion endowment fund to support the education of millions around the world.

Pursuant to the agreement, Sobha Realty will construct and develop an AED400 million university campus building in Dubai. The contribution represents one of the UAE’s largest charity donations. Upon completion, the project will be handed over to MBRGI.

The proposed endowment university aims to further diversify higher education options available in Dubai to domestic and international students in undergraduate and postgraduate programmes.

International standards

His Excellency Mohammad Al Gergawi, Secretary General of the Mohammed bin Rashid Al Maktoum Global Initiatives, said the establishment of an endowment university in Dubai that meets the highest international standards in education and research reflects Highness Sheikh Mohammed bin Rashid Al Maktoum’s belief in the role education plays in advancing human civilization and achieving prosperity, stability and development.

“The Mothers’ Endowment campaign, which aims to honour mothers by establishing an endowment fund that supports the education of millions of people across underprivileged communities, reflects a profound understanding of the true meaning of charity and humanitarian work as catalysts for progress and empowerment. By providing impoverished individuals with high quality education, the initiative provides them with the hope and means to create a better future,” His Excellency Al Gergawi said.

“The charitable grant agreement signed with Sobha Realty is another significant step towards achieving the goals of the Mothers’ Endowment campaign. It will enable thousands of students from the UAE and the region to enroll and finish their higher education within an exemplary educational environment,” he added.

PNC Menon, Founder and Chairman of Sobha Realty, said: “The charitable grant agreement signed with MBRGI is part of our efforts to promote collaboration to implement impactful projects that benefit vulnerable populations across many countries. This agreement is particularly important to Sobha Realty due to its association with the Mothers’ Endowment campaign, as well as the Group’s keenness to support charity and humanitarian initiatives launched by the UAE to help millions around the world.”

“We are excited to be one of the contributors to the Mothers’ Endowment campaign, and the entity responsible for developing the campus building of the endowment university in Dubai. We strongly believe that investing in the endowment university will reap huge benefits in the future, both locally and regionally, positively impacting development efforts while reinforcing Dubai’s status as a global destination, and an incubator of knowledge,” he added.

Strong culture of endowments
The endowment university, which aims to provide thousands of students with education opportunities, demonstrates the maturation and evolution of the UAE’s culture of endowments.

The Mothers’ Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum on 4 March, and organised by the Mohammed bin Rashid Al Maktoum Global Initiatives, allows contributors to honour their mothers by donating on their behalf. It aims to provide education and vocational training to underprivileged individuals by supporting education across all levels and vocational tracks, giving them a chance to improve their quality of life, build their capabilities and equip themselves with the skills needed to succeed the job market, which will ultimately support development in their communities.

The campaign seeks to revive the culture of endowments as a means of fostering sustainable impact and giving, while also highlighting the role of mothers in supporting their children’s education. The campaign also reinforces key values such as honouring parents, kindness, compassion and solidarity in the community, further strengthening the UAE’s humanitarian role.