Page 305 - SOBHA REALTY PR REPORT - MARCH 2024 (ENGLISH)

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

“We are excited to be one of the contributors to the Mothers’ Endowment campaign, and the entity responsible for developing the campus building
of the endowment university in Dubai. We strongly believe that investing in the endowment university will reap huge benefits in the future, both
locally and regionally, positively impacting development efforts while reinforcing Dubai’s status as a global destination, and an incubator of
knowledge,” he added.

Strong culture of endowments

The endowment university, which aims to provide thousands of students with education opportunities, demonstrates the maturation and evolution
of the UAE’s culture of endowments.

The Mothers’ Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum on 4 March, and organised by the
Mohammed bin Rashid Al Maktoum Global Initiatives, allows contributors to honour their mothers by donating on their behalf. It aims to provide
education and vocational training to underprivileged individuals by supporting education across all levels and vocational tracks, giving them a
chance to improve their quality of life, build their capabilities and equip themselves with the skills needed to succeed the job market, which will
ultimately support development in their communities.

The campaign seeks to revive the culture of endowments as a means of fostering sustainable impact and giving, while also highlighting the role of
mothers in supporting their children’s education. The campaign also reinforces key values such as honouring parents, kindness, compassion and
solidarity in the community, further strengthening the UAE’s humanitarian role.

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