Dubai Endowments completes a commercial endowment worth 3 million dirhams

The Endowments and Minors’ Funds Management Foundation in Dubai completed the Khalifa Al-Tajer Mahal Endowment Project in the Port Saeed area in Dubai, with the proceeds allocated to sponsoring the affairs of the Khalifa Al-Tajer Mosque in Dubai. The Foundation explained that the project consists of five commercial stores built on an area of ​​​​6,950 square feet of land belonging to the Khalifa Al-Tajer Mosque, while construction costs are estimated at about three million dirhams, and the investment return rate is about 29% of the total project value.

The completion of this project is part of five charitable real estate projects that the Foundation completed during the current year. The five shops were transferred to the Real Estate Management Department for leasing, and their investment returns were spent on maintaining and caring for the affairs of Khalifa Al-Tajer Mosque.

The Secretary-General of the Endowments and Minors’ Funds Management Foundation, Ali Al-Mutawa, said: “The Foundation is keen to complete sustainable endowment investment projects that contribute to enhancing the development plans of the Emirate of Dubai, in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.” “May God protect him, in promoting the process of sustainable development.” Al-Mutawa added that the Foundation completed various residential and commercial endowments during the current year, supporting various sectors of society in health, education, social affairs, and mosques, and contributing to the empowerment of widows, orphans, people with limited income, and people of determination, pointing out that the Foundation seeks to create an endowment for every mosque in the Emirate of Dubai. Within the framework of the Waqf strategy in the Emirate of Dubai, which aims to enhance the diversity and community solidarity of the Waqf, support sustainable humanitarian work, serve the community, and meet its needs.

29% investment return percentage of the total project value.