Page 408 - SOBHA REALTY QUARTERLY PR REPORT - JANUARY-MARCH 2024 (ENGLISH )

3/19/24, 11:58 AM Dubai to get Dh400 million endowment university
Dubai to get $109 million endowment university
MBRGI and Sobha Realty sign charitable grant agreement

The agreement, signed in the presence of Hamdan bin Mohammed, forms part of the Mothers’ Endowment campaign
Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) and Sobha Realty signed a
charitable grant agreement for the establishment of an endowment university in Dubai.
Pursuant to the agreement, Sobha Realty will construct and develop an AED400 million ($108.9
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 agreement was signed in the presence of Sheikh Hamdan bin Mohammed bin Rashid Al
Maktoum, Crown Prince of Dubai and Vice Chairman of the Board of Trustees of MBRGI.
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.

Read: $272 million education fund launched ahead of Ramadan
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
“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,” Mohammad Al Gergawi, secretary general of the MBRGI, 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

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