Awqaf Abu Dhabi and Aldar to develop Dh70m real estate endowment project to support People of Determination and patients with chronic diseases
ABU DHABI (ALETIHAD)The Endowments and Minors Funds Authority (Awqaf Abu Dhabi) and Aldar have partnered to develop a real estate endowment project, valued at Dh70 million, in support of the Awqaf Abu Dhabi Life Endowment campaign.Proceeds from the project will be dedicated to enhancing healthcare access, specifically by covering treatment costs and providing support for individuals with chronic illnesses, and, People of Determination. The initiative aligns with goals of the Awqaf Abu Dhabi Life Endowment campaign, launched by Awqaf Abu Dhabi, as well as Aldar's commitment to driving long-term community impact through strategic investments in social causes.Awqaf Abu Dhabi will provide the land, while Aldar will lead with its design, development, and delivery. The project introduces an innovative and sustainable model of real estate investment, generating recurring income that will be reinvested into strengthening the healthcare system and enhance its capacity to meet future challenges.Launched by the Endowments and Minors Funds Authority (Awqaf Abu Dhabi), the Awqaf Abu Dhabi Life Endowment campaign, under the slogan With You For Life, aims to build a lasting fund to support the healthcare needs of underserved groups. This includes access to medications, mental health services, and other forms of medical support.Director General of Awqaf Abu Dhabi, His Excellency Fahad Abdulqader Al Qassim, said, 'The Awqaf Abu Dhabi Life Endowment campaign marks a significant shift in the use of endowments for development. It moves beyond traditional models to create an innovative, sustainable system of endowments that direct resources to strengthen the vital healthcare sector. This approach ensures ongoing giving and support, promotes community well-being, and improves public health.''Awqaf Abu Dhabi believes in leveraging endowment assets as a sustainable source of funding for development, providing a consistent revenue stream for social and healthcare projects. This endowment project, developed in collaboration with Aldar, embodies this vision. It will generate sustainable income to strengthen the healthcare system's capacity to provide long-term care for individuals with chronic illnesses, and People of Determination.'
Group Chief Executive Officer at Aldar, Talal Al Dhiyebi, said, 'We are honoured to collaborate with Awqaf Abu Dhabi on this groundbreaking endowment project, which underscores the importance of public-private partnerships in developing innovative solutions to address social challenges. By leveraging real estate investment, the initiative will provide greater access to healthcare for those who need it most, reflecting the UAE's deeply rooted values of giving and social solidarity.'
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