Page 353 - SOBHA REALTY PR REPORT - MARCH 2024 (ENGLISH)

3/19/24, 11:57 AM MBRGI and Sobha Realty sign charitable grant agreement to establish AED400 million endowment university in Dubai | Emir…

MBRGI and Sobha Realty sign charitable grant agreement to establish AED400 million endowment university in Dubai
Monday, March 18, 2024 4:11 PM3 minutes Reading

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DUBAI, 18th March, 2024 (WAM) -- In the presence of H.H. 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) and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First
Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, MBRGI and Sobha Realty signed a charitable grant agreement for the
establishment of an endowment university in Dubai.
H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, also attended the signing of the agreement.
The agreement forms part of the Mothers’ Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime
Minister 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
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 in the role education
plays in advancing human civilisation 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,” Al Gergawi 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 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

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