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MBRGI and Sobha Realty sign charitable grant agreement

Latest News Dubai 19 Mar 24
MBRGI and Sobha Realty sign charitable grant agreement
MBRGI and Sobha Realty signs agreement to establish a AED400 million funded university in Dubai
Fee
Event Location
Dubai, Dubai
Area
Dubai
Start Time
19 March 2024, 12:00 AM
End Time
30 April 2024, 12:00 AM
Website

MBRGI and Sobha Realty signed a charitable grant agreement for the establishment of an endowment university in Dubai.

The agreement forms part of the Mothers’ Endowment campaign, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE 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.

His Excellency Mohammad Al Gergawi, Secretary General of the Mohammed bin Rashid Al Maktoum Global Initiatives, said ,“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,” His Excellency 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.”

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.

MBRGI Sobha Realty agreement



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