UAE’s Awqaf, AMAF launch four endowment projects in Dubai worth Dhs56.2m

Awqaf and Minors Affairs Foundation (AMAF) have launched four new endowment projects valued at Dhs56.2m in addition to announcing plans for six other projects worth Dhs16.3m.

The new endowment projects range from residential villas to residential complexes for workers across Dubai; their profits will cover the costs of education, health and care for women, children and people of determination, as well as charity institutions.

According to state news agency, WAM, Ali Al Mutawa, secretary-general of the AMAF, said the foundation will start implementing the new projects from the fourth quarter of 2022 to the first half of 2023. It is currently conducting economic feasibility studies to carry out new endowments varying between commercial stores and real estate units.

The secretary-general also highlighted the foundation’s keenness to restore old buildings in Dubai, in line with the emirate’s sustainable development plans.