Dubai Alex Block/Unsplash

Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) and Sobha Realty signed a charitable grant agreement to establish an AED 400 million endowment university in Dubai.

The agreement was signed in the presence of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Vice Chairman of the Board of Trustees of the MBRGI, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE.

Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, also attended the signing ceremony.

Under the agreement, Sobha Realty will construct an AED400 million university campus building in Dubai. The contribution represents one of the UAE's largest charity donations. The project will be handed over to MBRGI after its completion.

Mohammad Al Gergawi, Secretary General of the MBRGI, noted that the establishment of this university will meet the highest international standards in education and research, reflecting the Ruler of Dubai's belief in the role of education in human civilization and development.

"The Mothers' Endowment campaign, which aims to honor 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," Al Gergawi said, WAM reported.

"By providing impoverished individuals with high-quality education, the initiative provides them with the hope and means to create a better future," he added.

The secretary-general emphasized that this charitable grant agreement signed with Sobha Realty is an important step in achieving the goals of the Mothers' Endowment campaign, adding that will allow thousands of students from the country as well as the region to enroll and complete their higher education.

The agreement forms part of the Mothers' Endowment campaign, which was launched by the Prime Minister of the UAE on March 4 and organized by MBRGI.

The goal is to offer education and vocational training to underprivileged individuals, supporting education at all levels and vocational paths. This initiative will enhance their quality of life, develop their abilities, and provide the necessary skills to thrive in the job market.

PNC Menon, Founder and Chairman of Sobha Realty, noted that this agreement highlights their efforts to collaborate in order to execute 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," Menon added.