Dubai launches Dhs70-million talent care endowment project
The Dubai Awqaf and Minors Affairs Foundation and the Emirates Gifted Association announced the launch of the "Gifted Endowment" project, a permanent endowment supporting the nation's gifted youth.
The endowment consists of an investment property with a total value of Dhs70 million and is expected to be completed within two years.
The project aims to support talented Emiratis by providing a sustainable source of income that contributes to funding programmes to discover and develop national talents, offering scholarships and training, and supporting research and technological projects led by Emirati innovators.
The endowment is located on a 70,000-square-foot plot of land of an estimated value of Dhs40 million in the Al Raffa area of Dubai, generously donated by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
The project includes an investment property consisting of a ground floor and six floors, containing 36 residential units, retail shops and parking lots.
The project's construction cost is approximately Dhs30 million, bringing the total value of the endowment to Dhs70 million.
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