Page 370 - 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 …
Minister of the UAE and Ruler of Dubai, to honour mothers by establishing an AED 1
billion endowment fund supporting the education of millions around the world.

Under the agreement, Sobha Realty will construct and develop an AED 400 million

university campus building in Dubai over 4 years, marking one of the UAE’s largest
charity donations. The project will be handed over to MBRGI who will cooperate with a

prestigious international university that will run the endowment university.

With a capacity of 2,000 students, the Dubai-based 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 Mohammed bin Rashid Al

Maktoum Global Initiatives, said the establishment of an endowment university
according to the highest international standards in Dubai reflects the vision of His

Highness Sheikh Mohammed bin Rashid Al Maktoum of prioritizing education as the
core of human civilization, and the optimal path towards realizing aspirations of

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 deep understanding of the true meaning of

charity and humanitarian work as means to drive progress and empower impoverished
individuals by providing them with education and the hope that they can create a better

future,” His Excellency Al Gergawi said.

“The charitable grant agreement signed with Sobha Realty is one step ahead towards

achieving the main objective of the Mothers’ Endowment campaign, by allowing
thousands of students from the UAE and the region to enroll and finish their higher

education within a model educational environment,” he added.

PNC Menon, Founder and Chairman of Sobha Realty, said: “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

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