The Endowments and Minors’ Trust Foundation in Dubai (AWQAF) has announced the development of 21 endowment real estate projects valued at over Dh202 million. These projects, including malls, residential buildings, shops and mosques, are at various design and implementation stages.
The diverse projects serve multiple purposes, such as educational and humanitarian initiatives, charitable contributions, and mosque endowments. Funding for these developments comes from endowment backers and the reconstruction portfolio. AWQAF Dubai stated that construction timelines range from one to two years, with projects strategically located in central Dubai.
Plans are underway to establish endowment malls in emerging residential areas to improve community services and address residents’ needs. The developments align with Dubai’s commitment to expanding endowment investments and supporting the Dubai Plan 2033’s social and economic objectives.
Some of the projects are expected to be completed by the end of 2024, while the majority are scheduled for completion by mid-2025.