Page 362 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

The university campus building will have a capacity of 2,000 students. The project will
be handed over to MBRGI, which will cooperate with an international university that will

run the endowment university.

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

“The charitable grant agreement signed with MBRGI is part of our 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

Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), as we are keen to
support charity and humanitarian initiatives launched by the UAE to help millions around

the world,” PNC Menon, founder and chairman of Sobha Realty.

It may be noted that the world’s top three universities and institutes are endowment
institutions. Harvard is a private, non-profit university with a $50.7 billion endowment.

Stanford comes next and is also a private non-profit university with a $36.5 billion
endowment, while MIT has a $23.5 billion endowment.

The agreement forms part of the Mothers’ Endowment campaign, launched by Sheikh

Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

The Mothers’ Endowment campaign 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, allowing them a chance to improve their quality of life, build their skills and

prepare for the job market, which will ultimately drive the stability and development in
their communities.

The campaign seeks to revive the culture of endowments as a development tool that

ensures sustainable impact and giving, while at the same time highlighting the role of
mothers in supporting their children’s education.

https://www.business-standard.com/companies/news/mbrgi-sobha-signs-pact-to-establish-
aed400-mn-funded-university-in-dubai-124031900671_1.html