Dubai's Endowment Assets Reach AED 11.1 Billion, Reflecting Commitment To Community Development

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, emphasised Dubai's dedication to leading the endowment sector and expanding community service endowments. He credited this achievement to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. During a meeting with AWQAF Dubai and key donors, he praised their efforts in advancing community development through endowments.

During the event, H.H. Sheikh Hamdan highlighted AWQAF Dubai's role in shaping the future of endowments through advanced smart services and data-driven planning. "Endowments are a key pillar in supporting education, healthcare, and social welfare, reflecting a vision rooted in sustainability and innovation," he said. "AWQAF Dubai’s adoption of global best practices strengthens Dubai’s leadership in the endowment sector, ensuring a lasting impact on society."

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The value of endowment assets in Dubai reached AED11.1 billion in 2024, marking a 9% increase from the previous year. H.H. Sheikh Hamdan announced that Dubai's strategy has increased the number of endowments to 1,043 with 578 donors. This growth highlights Dubai's commitment to fostering a culture of giving as part of sustainable development.

A report on Dubai’s endowment assets in 2024 revealed that total assets reached AED11.1578 billion. Endowments are distributed across key categories, including 882 charitable endowments valued at AED6.9 billion, 113 family endowments worth AED3.1 billion, and 48 joint endowments amounting to AED1.1 billion.

H.H. Sheikh Hamdan noted women's increasing involvement in endowments, with female assets reaching AED1.3 billion—a significant rise from last year. "This reflects the deep awareness among women in the UAE of the importance of social responsibility and collective efforts in driving positive societal change," he said.

The report highlighted that real estate accounts for the largest share of endowments, valued at AED10 billion and comprising 921 endowments, including land, apartments, villas, shops, and buildings. Meanwhile, financial assets—including shares and commercial licenses—total AED1.1 billion, distributed across 122 endowments.

Leadership and Innovation in Endowment Management

Issa Al Ghurair, Chairman of AWQAF Dubai's Board of Directors, stated that these figures demonstrate success in promoting societal awareness about endowments. "The increase in endowment assets highlights growing confidence in our approach, which prioritises innovation and sustainability to ensure long-term impact across generations," he said.

Ali Al Mutawa, Secretary General of AWQAF Dubai, emphasised their commitment to expanding endowments aligned with Dubai's sustainable development goals. "In line with the leadership’s vision and with the continued support of donors, we have successfully increased the volume of endowment assets," he said.

Commitment to Sustainable Development

H.H. Sheikh Hamdan reaffirmed Dubai’s commitment to advancing the endowment system by fostering innovation and ensuring its sustainability to benefit future generations. "We will continue to strengthen Dubai’s position as a global hub for charitable work and humanitarian initiatives," H.H. Sheikh Hamdan said.

Al Mutawa added: "By embracing digital transformation and smart services, we have facilitated endowment contributions." Data-driven planning has been crucial for developing modern systems that ensure sustainable giving through innovative models.

The administrative management involves AWQAF overseeing 679 endowments worth AED3.7 billion while third parties manage another 364 valued at AED7.4 billion.

With inputs from WAM