Page 340 - SOBHA REALTY PR REPORT - MARCH 2024 (ENGLISH)

3/20/24, 1:00 PM Mohammed bin Rashid Al Maktoum Global Initiatives, Sobha Realty signed a charitable grant agreement to establish an AED 400 …
projects that benefit vulnerable populations across many countries. This agreement

is particularly important to Sobha Realty due to its association with Mohammed bin
Rashid Al Maktoum Global Initiatives, as we are keen to support charity and

humanitarian initiatives launched by the UAE to help millions around the world.”

“We are thrilled to be among contributors to the Mothers’ Endowment campaign, and

the entity responsible for developing the upcoming campus building 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 solidifying Dubai’s status as a global destination, and an incubator of

knowledge,” he added.

Major step

The endowment university, which aims to provide thousands of students with
education opportunities, reflects how a culture of endowments has matured and

evolved in the UAE.

It is worth pointing out that the world’s top three universities and institutes are
endowment institutions. Harvard is a private, non-profit university with a US $50.7

st
billion endowment that ranks 1 . Stanford comes next and is also a private non-
rd
profit university with a US $36.5 billion endowment, while MIT, 3 globally, has a US
$23.5 billion endowment.

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Reviving the culture of endowment

The Mothers’ Endowment campaign, launched by His Highness Sheikh Mohammed

bin Rashid Al Maktoum on 4 March, is organized under the Mohammed bin Rashid Al

Maktoum Global Initiatives and allows contributors to honour their mothers by
donating on their behalf. It aims to provide education and vocational training to

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