Mohammed bin Rashid reviews plans for Sobha Realty’s AED500 million Arab Reading Challenge Endowment

Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in the presence of Lieutenant General His Highness Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, reviewed the plans and implementation stages of the AED500 million Arab Reading Challenge Endowment, to be developed by Sobha Realty in Dubai. All proceeds from the project will be directed towards supporting the Arab Reading Challenge’s strategic plans to develop knowledge and cultural programmes, preserve the Arabic language and empower young Arabs to pursue knowledge and modern sciences. The review took place during the closing ceremony of the 10th Arab Reading Challenge, held at the Dubai World Trade Centre, where the winners were honoured. His Highness was briefed by Ravi Menon, Chairman of Sobha Realty, on the project’s architectural design, functional layout and integration with Dubai’s urban identity, as well as its long-term potential to generate sustainable revenues in support of the world’s largest reading initiative and competition. Located in Al Barsha South 3 in Dubai, construction of the project is scheduled to begin in the first quarter of 2027, with completion expected within 36 months. The Arab Reading Challenge Endowment is an integrated development comprising residential units, office spaces, retail outlets and community services. Its architectural design combines quality, economic efficiency and operational sustainability. Impactful contribution His Excellency Mohammad Al Gergawi, Secretary General of the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), said that Sobha Realty’s Arab Reading Challenge Endowment represents a significant contribution to strengthening the initiative’s position and advancing its educational and cultural objectives across the Arab world and beyond. He noted that the endowment will enhance the Challenge’s ability to shape young people’s awareness, develop their skills and support them in pursuing their academic and professional aspirations, while contributing to the growth and prosperity of their communities. His Excellency said: “This project reflects the widespread recognition of the Arab Reading Challenge and the strong belief in its impact as an inspiring initiative that has achieved major milestones since its launch in 2015, bringing positive change to the lives of students and Arab communities.” Al Gergawi added that the endowment will open new opportunities for the Arab Reading Challenge to further develop its programmes, expand its global reach and introduce innovative projects that broaden students’ knowledge and strengthen their engagement with the Arabic language. His Excellency Eng. Marwan bin Ghalita, Director General of Dubai Municipality, who oversees the project, said: “Located in Al Barsha South 3 in Dubai, the project reflects Dubai’s urban identity and spans an area of 750,000 square feet. Designed to meet the highest sustainability standards, it qualifies for a Silver Rating under Dubai’s Al Sa’fat green building rating system, which applies to all building types across the emirate. The development comprises two main towers, service and recreational facilities, and retail outlets.” Bin Ghalita added that the project is designed to maintain stable occupancy rates and generate sustainable revenues to support the endowment’s objectives, with an expected return on investment of 11% starting from its second year. In October 2025, Sobha Realty pledged AED500 million towards an endowment supporting the Arab Reading Challenge under an agreement signed with MBRGI. The contribution aims to advance the initiative’s objectives of making reading and learning daily habits among students and reinforcing the role of Arabic as a language of knowledge and a fundamental part of cultural identity. The endowment also supports MBRGI’s mission to drive positive change across the Arab cultural landscape and empower future generations to contribute to a new era of Arab civilisation. Remarkable success The 10th edition of the Arab Reading Challenge recorded the highest participation in its history, attracting 40,286,428 students from 60 countries, representing 48% of all school students across the Arab world. The edition also brought together 138,426 schools and 161,507 supervisors. Student participation increased by 1,019% compared to the inaugural edition in 2015, which attracted 3.6 million students. The winner of the Arab Reading Challenge Champion title will receive AED500,000, while the second- and third-place winners will receive AED100,000 and AED70,000, respectively. In the People of Determination category, the first-place winner will receive AED200,000, followed by AED100,000 for second place and AED50,000 for third place. Introduced in the Challenge’s seventh edition, the category requires participants to read 25 books. The Community Champion category offers total prizes of AED200,000, with AE