Dubai sees 18 percent rise in endowment assets: Sheikh Hamdan

He made these remarks during a reception hosted by the Endowments and Minors’ Trust Foundation team in Dubai (Awqaf Dubai), led by Essa Al Ghurair, President of Awqaf Dubai. During the meeting, she was briefed on key developments in the field of donation work in Dubai. He also praised the foundation for its efforts in supporting the goals of Dubai Social Agenda 33.

“Dubai has created an enabling environment for donations to provide benefits to various segments of the community and drive sustainable development. The growth in the number of endowments in Dubai reflects the community’s growing awareness of the importance of endowments and their positive impact on society,” she said.

Highlighting the importance of leveraging smart services to improve endowment management, he noted that Awqaf Dubai implements comprehensive smart services to develop sustainable endowment projects and drive progress in the sector.

The Crown Prince of Dubai expressed his gratitude to citizens, residents and institutions for their inspiring initiatives in the field of donations. He highlighted his positive contribution to addressing the diverse needs of society, including the significant impact of donations in supporting education, scientific research, healthcare and research centres. Furthermore, he highlighted the key role of these initiatives in supporting the needs of mosques.

He said that these projects have offered businessmen the opportunity to fulfill their social responsibility.

As of the end of 2023, Awqaf Dubai recorded a total of 948 donations, and the value of its donation assets reached Dh10.3 billion. These endowments are associated with 532 registered contributors.

The 948 endowments include 857 real estate endowments and 91 financial endowments (financial assets, shares, licenses and companies). A total of 798 donations have been allocated to charitable purposes, 99 to family donations and 51 to joint donations. Contributors to the endowments include 647 men and 169 women, while entities and institutions contributed 132 endowments.

Essa Al Ghurair highlighted the foundation’s commitment to enhancing the comprehensive and sustainable development of Dubai in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. She also highlighted the Foundation’s efforts to ensure the sustainability of donations and their benefits through a strong governance framework.

Ali Al Mutawa, Secretary General of Awqaf Dubai, expressed the foundation’s commitment to implementing Dubai’s giving strategy and ensuring the sustainable growth of the sector. He highlighted the Foundation’s efforts to establish a digital infrastructure for donations and promote the adoption of best practices within the sector. Awqaf Dubai continues to encourage individuals and institutions to participate in the growth and development of donation initiatives, he noted.