DUBAI An endowment project consisting of five residential villas in Al Garhood was inaugurated by the Awqaf and Minors Affairs Foundation (AMAF) on Saturday
Built over five years, the Dh 9 million project is part of AMAF’s Salaty (My Prayer) campaign. The villas are expected to yield Dh750,000 in rental income which will go to fund the construction and operation of an aiport mosque under the Islamic affairs mandate.
Speaking at the inauguration, AMAF chairman Al Ghurair said: “The Foundation’s efforts align with the Letter of the New Season by His Highness Shaikh Mohammad bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Article Nine of his Fifty-Year Charter that seeks to achieve an annual growth in philanthropy in parallel with economic growth.”
Ali Al Mutawa, Secretary General of AMAF, said they encourage entities and individuals to contribute to their initiatives and promote the culture of giving in the UAE.
AMAF currently manages a property portfolio that comprises 4,207 residential units – including villas and apartments – and commercial outlets. The Foundation provides endowment residential options to employees of local and federal government entities, elderly citizens, and people of determination under favorable terms, such as a 10 percent discount on the rent of vacant units and one month of free rental. AMAF also offers a 20 percent discount on the rent of vacant commercial units to members of Dubai SME, an organisation that supports small and medium-sized enterprises