Dubai’s endowment assets rise to Dhs11.1 billion: Hamdan

Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, affirmed that Dubai remains committed to strengthening its leadership in the endowment sector and expanding community-based service endowments.

Sheikh Hamdan attributed this success to the vision and guidance of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.

Sheikh Hamdan made these remarks while meeting with a delegation from the Endowments and Minors’ Trust Foundation in Dubai (AWQAF Dubai) alongside several prominent donors. The meeting was held in the presence of Sheikh Ahmed Bin Mohammed Bin Rashid Al Maktoum, Second Deputy Ruler.

Sheikh Hamdan praised AWQAF Dubai’s efforts in expanding endowments and strengthening their role in advancing comprehensive community development.

Sheikh Hamdan honoured several donors for their contributions to endowment projects that support community initiatives, drive development plans, and enhance the quality of life for low-income groups. During the meeting, he also announced that the value of endowment assets in Dubai rose to Dhs11.1 billion in 2024, reflecting a 9% growth compared to the previous year.

“Dubai’s strategy to expand endowment assets has raised the total number of endowments to 1,043, while the number of donors has grown to 578,” Sheikh Hamdan said.

“The growth in endowment assets underscores Dubai’s commitment to embedding a culture of giving as a pillar of sustainable development,” Sheikh Hamdan added.

“Dubai continues to set a pioneering example in generosity, fostering social solidarity, and empowering individuals and institutions to contribute to key sectors.”

Sheikh Hamdan reaffirmed Dubai’s commitment to advancing the endowment system by fostering innovation and ensuring its sustainability to benefit future generations.

“We will continue to strengthen Dubai’s position as a global hub for charitable work and humanitarian initiatives,” Sheikh Hamdan said.

During the meeting, Sheikh Hamdan highlighted AWQAF Dubai’s role in shaping the future of endowments through advanced smart services and data-driven planning.

“Endowments are a key pillar in supporting education, healthcare, and social welfare, reflecting a vision rooted in sustainability and innovation,” he said.

“AWQAF Dubai’s adoption of global best practices strengthens Dubai’s leadership in the endowment sector, ensuring a lasting impact on society.”

Sheikh Hamdan also praised the contributions of citizens, residents, and institutions to endowment initiatives, particularly in education, healthcare, and scientific research.

He noted that AWQAF Dubai’s innovative endowment strategy enables organisations of all sizes to participate in community-focused initiatives.

Sheikh Hamdan also highlighted the growing role of women in endowments, noting that female endowment assets reached Dhs1.3 billion in 2024-a remarkable 99.96% increase from the previous year.

“This reflects the deep awareness among women in the UAE of the importance of social responsibility and collective efforts in driving positive societal change,” he said.

A report on Dubai’s endowment assets in 2024 revealed that total assets reached DHs11.1578 billion. Endowments are distributed across key categories, including 882 charitable endowments valued at Dhs6.9 billion, 113 family endowments worth Dhs3.1 billion, and 48 joint endowments amounting to Dhs1.1 billion.

The report highlighted that real estate accounts for the largest share of endowments, valued at Dhs10 billion and comprising 921 endowments, including land, apartments, villas, shops, and buildings. Meanwhile, financial assets-including shares and commercial licenses-total Dhs1.1 billion, distributed across 122 endowments.

Men’s endowments amounted to Dhs6.2 billion across 689 endowments, while women’s endowments reached Dhs1.3 billion across 207 endowments, reinforcing the active role of women in supporting the sector.

Administratively, 679 endowments valued at Dhs3.7 billion are managed by AWQAF Dubai, while 364 endowments worth Dhs7.4 billion are overseen by third parties.

Issa Al Ghurair, Chairman of the Board of Directors of AWQAF Dubai, stated that the figures highlight the success of efforts to promote the concept of endowments in society.

WAM