Dubai: Dubai’s Endowment and Minors’ Trust Foundation (Awqaf Dubai) has inaugurated the Bunyan Al Khair endowment initiative, developed in partnership with the Mohammed bin Rashid Housing Establishment (MBRHE) and Emarat Al Youm, following the completion of 22 endowment villas valued at AED70 million.The project comprises AED35 million in land value and AED35 million in construction costs and is designed to support housing assistance for low-income Emiratis, families in need and humanitarian cases that do not qualify for existing housing support programmes.The inauguration ceremony was attended by Issa Al Ghurair, Chairman of Awqaf Dubai; Ali Al Mutawa, Secretary General of Awqaf Dubai; Mohammed Al Shehhi, CEO of MBRHE; Abdullah Al Shehhi, CEO of the Real Estate Regulatory Agency; Saud Al Darbi, Head of Newspapers and News Centre at Dubai Media; Ibrahim Shukrallah, Editor-in-Chief of Emarat Al Youm; and Ravi Menon, Chairman of Sobha Group.As part of the initiative, Sobha Realty contributed an endowment comprising 11 villas built at a cost of AED25 million across Nad Shamma, Al Wasl, Al Warqa, Al Rashidiya, Al Qusais and Oud Al Muteena. The development supports the geographical diversification of endowment assets across Dubai.Issa Al Ghurair said Sobha Realty’s participation highlights the private sector’s role in strengthening community partnerships and supporting initiatives with a lasting social impact. He added that cooperation between government organisations and private companies plays a key role in developing sustainable endowment assets that address community needs.Ali Al Mutawa described the completion of the initiative as an important milestone in the development of community-focused endowment projects, demonstrating how institutional partnerships can transform social initiatives into sustainable assets that generate long-term benefits.He said the project reinforces the role of endowments as a development tool capable of creating sustainable resources for society, while reflecting successful collaboration between government entities, media organisations and the private sector.Mohammed Al Shehhi said the initiative underscores the importance of institutional and community partnerships in supporting housing stability and improving the quality of life for Emirati families. He described the project as a model of social solidarity that provides sustainable solutions for eligible beneficiaries.Saud Al Darbi said the transformation of Bunyan Al Khair from an idea into a completed project reflects Dubai Media’s commitment to supporting humanitarian and community initiatives that benefit UAE citizens.Ibrahim Shukrallah noted that the initiative originated through Emarat Al Youm’s Hotline column in 2023, in cooperation with Awqaf Dubai and MBRHE, with the goal of developing 22 endowment homes across Dubai at a total cost of AED70 million.He added that the project reflects the spirit of solidarity and cooperation that characterises Emirati society, supported by contributions from individuals and organisations across the UAE.The completion of Bunyan Al Khair represents a model for directing endowment resources towards community needs by combining sustainable property development with partnerships between government bodies, private companies and media organisations, ensuring the long-term continuity of endowment benefits.
