Dubai's Awqaf approves AED35.7 million in direct benefits for 2025, marking a 16% increase in allocation compared to previous years.
In a significant move towards achieving its strategic goals, Awqaf Dubai, the Endowment and Minors' Trust Foundation in Dubai, has approved AED 35.7 million for financial benefits in 2025. This allocation marks a 16% increase over the previous year's allocation and represents a 3.5% return on investment.
The decision, made during the Board's tenth meeting of the year, was chaired by Issa Al Ghurair, with Ali Al Mutawa serving as Secretary-General. The meeting underscored Awqaf Dubai's commitment to ensuring a lasting positive impact on the communities it serves.
One of the key projects under consideration by Awqaf Dubai is the Al Khawaneej Mall development, a flagship initiative aimed at enhancing endowment returns and contributing to Dubai's broader economic and social goals. The Board praised the progress of this project and emphasized the importance of meeting its scheduled milestones.
The Al Khawaneej Mall development is part of Awqaf Dubai's strategy to create impactful projects that promote social cohesion. The project is not mentioned in the context of the 2025 financial benefits or its allocation, suggesting that its benefits may extend beyond the immediate financial returns.
In addition to the Al Khawaneej Mall development, the Foundation's investment portfolio reached AED 1.022 billion by the end of 2024, generating AED 64 million in revenue and AED 14 million in expenses, resulting in a net surplus of AED 50 million for distribution. This net surplus forms the basis for the 2025 dividend distribution.
Secretary-General Ali Al Mutawa highlighted the Foundation's focus on expanding endowment assets and fund portfolios for long-term sustainability and benefits for minors. The leadership reaffirmed commitment to sustainable growth, social cohesion, and alignment with Dubai’s Vision 2030.
A total of AED 14.3 million was allocated to the reserve fund to ensure future financial stability. This move underscores Awqaf Dubai's dedication to effective financial stewardship and sustainable development.
In summary, Awqaf Dubai's 2025 strategy focuses on maximizing sustainable returns through key projects like Al Khawaneej Mall, increasing financial benefits for beneficiaries, reinforcing reserves, and maintaining strong governance aligned with broader economic and social objectives. The Foundation's commitment to its mission and Dubai's Vision 2030 continues to drive its investments and initiatives.
- The Al Khawaneej Mall development, a project that promotes social cohesion, is part of Awqaf Dubai's strategy to create impactful projects that align with their commitment to sustainable growth, social cohesion, and Dubai’s Vision 2030.
- The Board of Awqaf Dubai emphasized the importance of meeting the scheduled milestones for the Al Khawaneej Mall development, a flagship initiative aimed at enhancing endowment returns and contributing to Dubai's broader economic and social goals.
- The Foundation's focus on expanding endowment assets and fund portfolios for long-term sustainability, as highlighted by Secretary-General Ali Al Mutawa, also includes the reserve fund, to which AED 14.3 million was allocated to ensure future financial stability.
