Page 346 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

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.”

https://www.mediaoffice.ae/en/news/2024/March/18-03/MBRGI-and-Sobha-Realty