AED 70 Million Endowment Fund Set Up to Support Emirati Talent
The initiative will fund talent development programmes, scholarships, and research projects through sustainable income.
The Dubai Awqaf and Minors Affairs Foundation (DAMAF) and the Emirates Gifted Association have launched an AED 70 million endowment project to support gifted Emirati youth. The ‘Gifted Endowment’ initiative will fund talent development programmes, scholarships, and research projects through sustainable income generated by a mixed-use property in Dubai’s Al Raffa area.
The project is anchored by a 70,000-square-foot plot of land donated by His Highness Sheikh Mohammed Bin Rashid Al Maktoum. The land, valued at AED 40 million, will host a seven-storey building featuring 36 residential units, retail spaces, and parking facilities. Construction is expected to cost AED 30 million, with completion anticipated within two years.
Proceeds from the property’s rental income and commercial activities will create a permanent funding stream for initiatives such as training programmes for Emirati talents, scholarships for students, and grants for youth-led technological innovation.
The endowment aims to address gaps in specialised education and research funding while empowering Emirati youth to contribute to the UAE’s long-term development goals.
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