Dubai’s Endowments and Minors’ Trust Foundation (Dubai Endowment) has launched a campaign to support the Mosques Endowment Fund in the emirate.
The campaign seeks to establish a sustainable charitable endowment whose proceeds will fund the needs of 50 mosques in the emirate.
As part of the initiative, Dubai Endowment will build a commercial complex in the Al Khawaneej area, consisting of 29 shops, a large shopping mall, a medical centre and parking lots at a cost of AED40 million. The complex is expected to generate an annual revenue of AED8 million, which will used to cover the expenses of about 50 mosques in Dubai that do not have endowments or sponsors.
Since its establishment, Dubai Endowment has launched 21 Islamic-affairs endowment projects featuring a total cost of AED403 million. The total rate of return of these projects is estimated at 20% of their total value.
His Excellency Ali Al Mutawa, Secretary-General of Dubai Endowment, said that as part of its commitment to caring for mosques, the Government of Dubai has entrusted Dubai Endowment with the task of providing for the needs of mosques. The new campaign’s ultimate goal is to dedicate an endowment for each mosque in Dubai, he noted.
His Excellency said Dubai Endowment has appointed several consultants to develop the Al Khawaneej commercial complex project. The process of preparing the exterior and interior designs of the building has commenced, he added.
Al Mutawa called on government and private entities, charities, community institutions and individuals who wish to do good to contribute to the campaign to support mosques and participate in building the sustainable endowment. He emphasised that all agencies and individuals contributing to the campaign will be registered officially as major supporters.
News Source: Dubai Media Office