Latest news with #AliAlMutawa
Hi Dubai
a day ago
- Business
- Hi Dubai
Awqaf Dubai Endowment Shares Portfolio Grows to AED9 Million in First Half of 2025
Dubai's Endowments and Minors' Trust Foundation (Awqaf Dubai) reported that its endowment shares portfolio reached AED9 million by mid-2025, reflecting a 4.7 percent rise compared to the same period last year. The foundation attributed the growth to prudent investment policies that safeguard resources, optimise returns, and channel funds toward social and charitable causes. Its portfolio includes shares listed on the Abu Dhabi Securities Exchange and the Dubai Financial Market, ensuring resilience against market fluctuations. Ali Al Mutawa, Secretary-General of Awqaf Dubai, reaffirmed the organisation's commitment to expanding and diversifying investments in line with Dubai's vision to lead in innovative endowment practices. He noted that the rise in value reflects the generosity of endowers who allocate shares to strengthen community resources. All proceeds from the endowment shares are distributed annually to causes such as education for underprivileged students, medical treatment for patients, support for widows and orphans, and empowerment of People of Determination. Since its launch in 2018, the Shares Endowment Service Initiative has provided citizens, residents, and investors with a dedicated platform to allocate securities as endowments, reinforcing Dubai's sustainable humanitarian efforts. News Source: Emirates News Agency
Hi Dubai
17-07-2025
- Business
- Hi Dubai
Awqaf Dubai Approves AED35.7 million in Direct Benefits for 2025, Marks 16% Increase
The Board of Directors of the Endowment and Minors' Trust Foundation in Dubai (Awqaf Dubai) has authorised AED35.7 million in direct financial benefits for 2025, marking a 16% increase over last year's allocation. The decision was made during the Board's tenth meeting of the year, chaired by Issa Al Ghurair, with the participation of Ali Al Mutawa, Secretary-General of Awqaf Dubai, and other senior members. The approved cash dividend represents a 3.5% return on investment, reflecting Awqaf Dubai's efforts to maximise sustainable yields while maintaining transparency and responsible governance. In addition to the dividend, AED14.3 million was allocated to the reserve fund to further reinforce financial stability. During the meeting, the Board reviewed the 2024 financial report, which revealed that the Minors' Trust Fund, valued at AED1.022 billion, generated AED64 million in revenue. After AED14 million in expenses, the resulting net surplus stood at AED50 million, forming the basis for this year's dividend distribution. The Board also assessed ongoing investment projects, most notably the Al Khawaneej Mall development, a flagship initiative aimed at enhancing endowment returns and contributing to Dubai's broader economic and social goals. The Board praised the project's progress and emphasised the importance of meeting its scheduled milestones. Issa Al Ghurair reaffirmed Awqaf Dubai's commitment to developing impactful endowment projects that support community needs, promote social cohesion, and align with Dubai Vision 2030. Secretary-General Ali Al Mutawa highlighted the Foundation's focus on expanding endowment assets and fund portfolios with the goal of long-term sustainability and benefit for minors. The meeting underscored Awqaf Dubai's dedication to effective financial stewardship and sustainable development, ensuring a lasting positive impact on the communities it serves. News Source: Emirates News Agency
Zawya
17-07-2025
- Business
- Zawya
Awqaf Dubai Board authorises $9.7mln in direct benefits in 2025
The Board of Directors of the Endowment and Minors' Trust Foundation in Dubai (Awqaf Dubai) convened its tenth meeting of 2025, with Issa Al Ghurair, Chairman of the Board, presiding over the deliberations. Ali Al Mutawa, Secretary-General of Awqaf Dubai, and several other members of the Board were in attendance. The meeting evaluated various strategic initiatives and key projects undertaken by Awqaf Dubai, also reviewing the 2024 financial report detailing the performance of the various funds operated by the Minors' Trust. The Board also discussed Awqaf Dubai's management of its general portfolio, emphasising the optimisation of sustainable returns on investment while upholding the highest standards of transparency and accountability. The Board reviewed financial statements relating to investments made by the Minors' Trust until the close of 2024. Aggregating AED1.022 billion, the funds generated AED64 million in revenues against a total incurred expenditure of AED14 million, yielding a net distributable surplus of AED50 million. Following thorough deliberations, the Board approved a cash dividend of AED35.7 million for 2025, reflecting a 3.5 percent return on investment and a 16 percent increase over the previous year's allocation. Additionally, AED14.3 million was allocated to the reserve fund. The Board also assessed the progress achieved on significant investment initiatives, notably the Al Khawaneej Mall development, a flagship project designed to boost endowment returns while advancing Dubai's economic and social development objectives. The Board commended the headway made with respect to the project and underscored the importance of adhering to the time frames set out for its various phases. Issa Al Ghurair said that, guided by the emirate's visionary leadership, Awqaf Dubai continues to develop endowment projects that address community needs, foster social cohesion, and promote sustainable growth, reaffirming the commitment to aligning with Dubai's Vision 2030. He highlighted the significance of further enhancing Awqaf Dubai's investment mechanisms to ensure resource sustainability and strengthen its capacity to support those it serves. Ali Al Mutawa reaffirmed Awqaf Dubai's commitment to its time-tested strategy for expanding endowment assets and fund portfolios intended for the benefit of minors. This approach is designed to promote sustainable development and amplify positive societal impact. 'Our operations are guided by a clear vision anchored in the highest standards of governance and transparency. We remain steadfast in our pursuit of sustained financial and investment success for the benefit of minors, in alignment with the directives of our visionary leadership,' he stated. 'The decisions ratified during the meeting, particularly the authorisation for profit-sharing and maximising of returns, underscore Awqaf Dubai's commitment to its beneficiaries. These actions reflect our dedication to effectively managing and growing funds intended to support minors, thus safeguarding their rights while ensuring the long-term sustainability of resources,' he added.
Emirates 24/7
17-07-2025
- Business
- Emirates 24/7
Awqaf Dubai Board authorises AED35.7 million in direct benefits in 2025, marking a 16% year-on-year increase
The Board of Directors of the Endowment and Minors' Trust Foundation in Dubai (Awqaf Dubai) convened its tenth meeting of 2025, with His Excellency Issa Al Ghurair, Chairman of the Board, presiding over the deliberations. His Excellency Ali Al Mutawa, Secretary-General of Awqaf Dubai, and several other members of the Board were in attendance. The meeting evaluated various strategic initiatives and key projects undertaken by Awqaf Dubai, also reviewing the 2024 financial report detailing the performance of the various funds operated by the Minors' Trust. The Board also discussed Awqaf Dubai's management of its general portfolio, emphasising the optimisation of sustainable returns on investment while upholding the highest standards of transparency and accountability. The Board reviewed financial statements relating to investments made by the Minors' Trust until the close of 2024. Aggregating AED1.022 billion, the funds generated AED64 million in revenues against a total incurred expenditure of AED14 million, yielding a net distributable surplus of AED50 million. Following thorough deliberations, the Board approved a cash dividend of AED35.7 million for 2025, reflecting a 3.5% return on investment and a 16% increase over the previous year's allocation. Additionally, AED14.3 million was allocated to the reserve fund. The Board also assessed the progress achieved on significant investment initiatives, notably the Al Khawaneej Mall development, a flagship project designed to boost endowment returns while advancing Dubai's economic and social development objectives. The Board commended the headway made with respect to the project and underscored the importance of adhering to the timeframes set out for its various phases. His Excellency Issa Al Ghurair said that, guided by the emirate's visionary leadership, Awqaf Dubai continues to develop endowment projects that address community needs, foster social cohesion, and promote sustainable growth, reaffirming the commitment to aligning with Dubai's Vision 2030. He highlighted the significance of further enhancing Awqaf Dubai's investment mechanisms to ensure resource sustainability and strengthen its capacity to support those it serves. Clear growth path His Excellency Ali Al Mutawa reaffirmed Awqaf Dubai's commitment to its time-tested strategy for expanding endowment assets and fund portfolios intended for the benefit of minors. This approach is designed to promote sustainable development and amplify positive societal impact. 'Our operations are guided by a clear vision anchored in the highest standards of governance and transparency. We remain steadfast in our pursuit of sustained financial and investment success for the benefit of minors, in alignment with the directives of our visionary leadership,' he stated. 'The decisions ratified during the meeting, particularly the authorisation for profit-sharing and maximising of returns, underscore Awqaf Dubai's commitment to its beneficiaries. These actions reflect our dedication to effectively managing and growing funds intended to support minors, thus safeguarding their rights while ensuring the long-term sustainability of resources,' he added.
Zawya
07-04-2025
- Business
- Zawya
Awqaf Dubai and Lulu Retail sign MoU to develop a group of retail stores in endowment projects in Dubai
Dubai: The Endowment and Minors Trust Foundation (Awqaf Dubai), has signed a strategic Memorandum of Understanding (MoU) with Lulu Retail Holdings, the region's leading retailer, to establish new hypermarkets and supermarkets across Dubai. The agreement was formalized today by Ali Al Mutawa, Secretary General of Endowment and Minors Trust Foundation (Awqaf Dubai), and Salim M.A, Director of Global Operations at Lulu Retail, in the presence of Essa Abdulla Al Ghurair, Chairman of Endowment and Minors Trust Foundation (Awqaf Dubai), Yusuffali M.A, Chairman of Lulu Group, and other senior officials. Under this partnership, Lulu will collaborate with Awqaf Dubai on upcoming community projects, developing world-class shopping facilities to serve both residents and visitors. This initiative aims to enhance the retail experience while contributing to AWQAF's broader social and economic objectives. The first hypermarket under this collaboration is set to launch in Khawaneej-2 by mid-year, marking the beginning of a series of planned developments across the city. Commenting on the partnership, Yusuffali M.A, Chairman of Lulu Group, stated: "We are honored to partner with AWQAF on this prestigious initiative. Lulu Group is committed to exploring all avenues of collaboration, ensuring a sustainable and world-class retail experience for Dubai's residents and visitors." As the No.1 full-line retailer in the region, Lulu Group continues its ambitious expansion drive, reinforcing its presence across the UAE and the wider GCC. This partnership underscores Lulu's commitment to Dubai's retail sector while aligning with AWQAF's mission to promote sustainable community development. About Lulu Retail Founded in 1974, Lulu Retail is the largest pan-GCC full-line retailer in terms of selling space, sales, and store count, boasting a 50-year legacy as a trusted homegrown brand. Lulu operates over 250 hypermarkets, express, and mini-market stores across six GCC countries, covering more than 1.4 million sq. m of retail space. It serves over 600,000 shoppers daily from 130 nationalities, sourcing products from 85 countries through its extensive global network, which includes a sourcing presence in 19 countries. With a growing e-commerce platform spanning app, webstore, and partner channels, Lulu continues to strengthen its brand presence, expand its store network, and enhance customer loyalty across the GCC.
