AMAF inaugurates $2.45mn residential project in Dubai
The five-villa project will help finance the construction and operation of an airport mosque, under the Islamic Affairs mandate
The Awqaf and Minors Affairs Foundation (AMAF) has announced that they have inaugurated an endowment project consisting of five residential villas in Al Garhood area in Dubai.
Occupying a space of more than 1820 sqm., the $2.45 million project is estimated to generate more than $200,000 in annual revenue, which will be used to finance the construction and operation of an airport mosque. This will fall under the Islamic affairs mandate, as part of the Salaty (My Prayer) campaign.
Commenting on the project, Issa Al Ghurair, Chairman of AMAF, said: “AMAF is committed to launching endowment initiatives that benefit those who need it the most. The Foundation’s efforts align with the Letter of the New Season by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and Article Nine of his Fifty-Year Charter that seeks to achieve an annual growth in philanthropy in parallel with economic growth.”
Additionally, Ali Al Mutawa, Secretary General of AMAF, said: “In line with our ‘Endowment for All’ principle, we encourage entities and individuals to contribute to our initiatives with the aim of promoting the culture of giving in the UAE.”
AMAF currently manages a property portfolio that comprises 4,207 residential units – including villas and apartments – and commercial outlets, according to a statement by AMAF. The Foundation provides endowment residential options to employees of local and federal government entities, elderly citizens, and people of determination under favorable terms, it sated.
