Page 358 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

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.