Key Points:
- Sobha Realty’s donation of AED 400 million ($108.9 million) will facilitate the establishment of a new university in Dubai under the Mother’s Endowment initiative.
- The initiative, launched by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, aims to establish a fund of AED 1 billion to support education globally.
- The university, supported by Sobha Realty’s generous contribution, will offer diverse undergraduate and postgraduate programs, contributing to the enrichment of higher education options in Dubai.
- The initiative reflects the UAE’s growing culture of philanthropy and commitment to promoting education, with a focus on honoring mothers and supporting underprivileged individuals through educational opportunities.
A significant donation of AED 400 million ($108.9 million) from Sobha Realty is set to pave the way for the establishment of a new university in Dubai, under the initiative called Mother’s Endowment. This generous contribution, announced by Dubai’s crown prince, Sheikh Hamdan bin Mohammed, marks a significant step towards enhancing educational opportunities in the region.
The Mother’s Endowment initiative, initiated by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, aims to establish a fund of AED 1 billion to support education globally, highlighting the importance of education in societal progress.
In a ceremony attended by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Vice Chairman of the Board of Trustees of the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), MBRGI and Sobha Realty signed a charitable grant agreement to establish the university in Dubai. This initiative aligns with the broader goals of the Mothers’ Endowment campaign, which seeks to honor mothers and support education worldwide.
Under the terms of the agreement, Sobha Realty will construct and develop the university campus with an investment of AED 400 million, representing one of the largest charitable donations in the UAE. Upon completion, the project will be transferred to MBRGI.
The proposed university aims to diversify higher education offerings in Dubai, catering to both domestic and international students across undergraduate and postgraduate programs, while adhering to international standards of excellence in education and research.
His Excellency Mohammad Al Gergawi, Secretary General of the Mohammed bin Rashid Al Maktoum Global Initiatives, emphasized the significance of the university in advancing education and fostering human development.
He said the establishment of an endowment university in Dubai that meets the highest international standards in education and research reflects Highness Sheikh Mohammed bin Rashid Al Maktoum’s belief in the role education plays in advancing human civilization and achieving prosperity, stability and development.
“The Mothers’ Endowment campaign, which aims to honour mothers by establishing an endowment fund that supports the education of millions of people across underprivileged communities, reflects a profound understanding of the true meaning of charity and humanitarian work as catalysts for progress and empowerment. By providing impoverished individuals with high quality education, the initiative provides them with the hope and means to create a better future,”
“The charitable grant agreement signed with Sobha Realty is another significant step towards achieving the goals of the Mothers’ Endowment campaign. It will enable thousands of students from the UAE and the region to enroll and finish their higher education within an exemplary educational environment,”.
PNC Menon, Founder and Chairman of Sobha Realty, expressed the company’s commitment to supporting impactful projects that benefit vulnerable populations. He said, “The charitable grant agreement signed with MBRGI is part of our efforts to promote collaboration to implement impactful projects that benefit vulnerable populations across many countries. This agreement is particularly important to Sobha Realty due to its association with the Mothers’ Endowment campaign, as well as the Group’s keenness to support charity and humanitarian initiatives launched by the UAE to help millions around the world.”
The establishment of the endowment university reflects the UAE’s growing culture of philanthropy and endowments, as well as its commitment to promoting education and supporting societal well-being. The Mothers’ Endowment campaign, launched by Sheikh Mohammed bin Rashid Al Maktoum, aims to provide education and vocational training to underprivileged individuals, with a focus on honoring mothers and strengthening community values such as compassion and solidarity.