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3/20/24, 1:19 PM MBRGI And Sobha Realty Sign Charitable Grant Agreement To Establish AED 400 Million Endowment University In Dubai | Dubai …

MBRGI AND SOBHA REALTY SIGN CHARITABLE

GRANT AGREEMENT TO ESTABLISH AED 400

MILLION ENDOWMENT UNIVERSITY IN DUBAI

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In the presence of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Vice Chairman of the Board
of Trustees of the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), MBRGI and Sobha Realty signed a charitable grant agreement
for the establishment of an endowment university in Dubai.

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 inthe 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.

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