AWQAF Dubai And Parkin Join Forces To Diversify Sustainable Endowment Investments

Dubai is advancing its strategy to diversify endowment streams for sustainable humanitarian initiatives. The Dubai Endowments and Minors’ Trust Foundation (AWQAF Dubai) has partnered with Parkin PJSC to launch joint investment projects. This collaboration aims to boost endowment growth and support Dubai's economic goals. AWQAF Dubai will finance multi-storey parking facilities, while Parkin will manage their implementation and operation.

Ali Al Mutawa, Secretary-General of AWQAF Dubai, highlighted the project's goal to expand endowment investments in key sectors. He stated, "Through our partnership with Parkin, we aim to develop impactful projects that enhance endowment assets, generating returns that support Dubai’s economic and social development." This partnership aligns with Dubai's strategic plans and reflects a commitment to social responsibility.

Parkin's CEO, Mohamed Abdulla Al Ali, expressed enthusiasm about the collaboration. He said: "As the leading provider of paid public parking facilities and services in the emirate of Dubai, we are pleased to partner with AWQAF to develop and operate new parking facilities in Dubai. Through this partnership, we will provide smart sustainable parking solutions that diversify endowment investments, enhancing returns, while at the same time supporting societal and economic development."

With nearly 30 years of experience, Parkin manages a vast network of advanced parking facilities across Dubai. The company is committed to using its expertise and technology to explore promising opportunities in this sector. This partnership highlights Parkin's dedication to shaping the future of parking in Dubai and contributing to the emirate's growth.

AWQAF Dubai is currently working on 21 real estate projects worth over AED202 million. These projects include shopping malls, residential buildings, villas, retail spaces, and mosques. They align with AWQAF's objectives of expanding investments and enhancing endowments' role in achieving Dubai’s social agenda goals.

The collaboration between AWQAF Dubai and Parkin signifies a strategic alliance aimed at fostering growth in vital sectors. By combining resources and expertise, both parties aim to create impactful projects that benefit society while supporting economic development in Dubai.

With inputs from WAM