H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said that under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the emirate has achieved in 2023 remarkable success in expanding endowment assets and enhancing service endowments. Dubai witnessed an 18 percent increase in endowment assets compared to the previous year, with total endowments reaching 948, His Highness noted. The assets represent a combined value of AED10.3 billion ($2.8 billion).
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His Highness made these remarks during a reception hosted for the Endowments and Minors’ Trust Foundation in Dubai (Awqaf Dubai) team, led by Essa Al Ghurair, chairman of Awqaf Dubai.
During the meeting, Sheikh Hamdan was briefed on key developments in the field of endowment work in Dubai. He also praised the Foundation for its efforts in supporting the objectives of the Dubai Social Agenda 33 (D33).
Dubai has created a supportive environment for endowments to deliver benefits to various segments of the community and drive sustainable development, His Highness added.
The growth in the number of endowment assets in Dubai reflects the community’s growing awareness of the importance of endowments and their positive impact on society, he added.
Highlighting the importance of leveraging smart services to improve endowment management, Sheikh Hamdan noted that Awqaf Dubai deploys comprehensive smart services to develop sustainable endowment projects and drive progress in the sector.
948 endowments by end of 2023
At the end of 2023, Awqaf Dubai registered a total of 948 endowments, with the value of its endowment assets reaching AED10.3 billion. These endowments are associated with 532 registered contributors.
The 948 endowments include 857 real estate endowments and 91 financial endowments (financial assets, shares, licences, and companies). A total of 798 endowments have been allocated to charitable purposes, 99 to family endowments, and 51 to joint endowments. Contributors to the endowments include 647 men and 169 women, while entities and institutions provided 132 endowments.
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