Latest news with #AwqafDubai
Zawya
29-04-2025
- Business
- Zawya
Dubai Land Department, Dubai Awqaf partner to strengthen foundation's real estate portfolio
Dubai Land Department has signed a Memorandum of Collaboration with the Awqaf and Minors Affairs Foundation to develop and enhance the foundation's real estate assets through DLD's Building Classification Project. The memorandum was signed at DLD headquarters by Majid Al Marri, CEO of the Real Estate Registration Sector, and Khalid Al Thani, Deputy Secretary-General of Awqaf Dubai, alongside other senior officials. The collaboration aims to evaluate and reclassify Awqaf Dubai's properties based on DLD's approved standards, upgrading assets following improvements. The agreement also enables inquiry services for lands and properties belonging to deceased individuals, minors, and those under similar legal status, with full access to supporting documentation. Al Marri said the initiative supports Dubai's vision to become a global benchmark in real estate management, including endowment property management. 'We aim to enhance property competitiveness and introduce efficient, transparent mechanisms for managing assets held by deceased individuals and minors. This reflects our commitment to innovation and government integration, aligned with Dubai's long-term economic and sustainability goals,' he added. Al Thani noted the collaboration underscores Awqaf Dubai's dedication to strategic partnerships that promote inclusivity and sustainable asset management. He said the classification system will enable the foundation to better assess and upgrade its buildings, ensuring optimal returns in support of endowers and minors. The partnership will also establish a shared system for accessing endowment property data and processing requests, further enhancing service quality. DLD's Building Classification Project applies five key criteria: engineering and technical standards, sustainability, documentation, health and safety, and management and finance. Properties are rated from 1 to 4 stars, with a 4+ rating for top-performing green buildings. Factors such as maintenance quality, air conditioning, elevators, parking and façade condition are also evaluated. The project delivers proactive solutions for real estate stakeholders, benefiting investors, owners, tenants, developers, and both government and private sector entities.
Hi Dubai
29-04-2025
- Business
- Hi Dubai
Dubai Land Department Partners with Awqaf Dubai to Boost Property Competitiveness
Dubai Land Department (DLD) has signed a strategic memorandum of collaboration with the Awqaf and Minors Affairs Foundation to enhance the value and competitiveness of the foundation's real estate portfolio across the emirate. The agreement, signed at DLD headquarters by senior officials from both entities, will leverage the DLD's Building Classification Project to evaluate and upgrade properties held by the Foundation. This includes reclassifying buildings based on engineering, sustainability, safety, and management standards, ultimately improving their market positioning. The partnership also expands access to property data and services for endowment properties, particularly those tied to deceased individuals and minors. Designated personnel from Awqaf Dubai's Inheritance Department will be granted access to DLD's Ejari valuation system, enabling smoother verification of rental contracts and facilitating the issuance of key requests such as endowment registration and asset sale approvals. Majid Al Marri, CEO of the Real Estate Registration Sector at DLD, said the collaboration aligns with Dubai's vision of becoming a global model in real estate management and enhances government integration in property-related services. Khalid Al Thani, Deputy Secretary General of Awqaf Dubai, highlighted the partnership as a step toward improving operational sustainability, boosting returns for endowers and minors, and raising the standard of foundation-owned properties through precise evaluation and targeted development. The DLD's classification system ranks buildings on a star rating from one to four, with an elite 4+ rating reserved for those meeting top-tier green sustainability benchmarks. The initiative is part of broader efforts to modernize property management and promote long-term real estate value in Dubai. News Source: Dubai Media Office
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.
