Page 371 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

3/20/24, 1:22 PM Mohammed bin Rashid Al Maktoum Global Initiatives, Sobha Realty signed a charitable grant agreement to establish an AED 400 …
particularly important to Sobha Realty due to its association with Mohammed bin Rashid
Al Maktoum Global Initiatives, as we are keen to support charity and humanitarian

initiatives launched by the UAE to help millions around the world.”

“We are thrilled to be among contributors to the Mothers’ Endowment campaign, and
the entity responsible for developing the upcoming campus building 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
solidifying Dubai’s status as a global destination, and an incubator of knowledge,” he

added.

Major step

The endowment university, which aims to provide thousands of students with education
opportunities, reflects how a culture of endowments has matured and evolved in the

UAE.

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

st
endowment that ranks 1 . Stanford comes next and is also a private non-profit
rd
university with a US $36.5 billion endowment, while MIT, 3 globally, has a US $23.5
billion endowment.

Reviving the culture of endowment

The Mothers’ Endowment campaign, launched by His Highness Sheikh Mohammed bin

Rashid Al Maktoum on 4 March, is organized under the Mohammed bin Rashid Al
Maktoum Global Initiatives and 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. The campaign also establishes the

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