Awqaf and Minors Affairs Foundation (AMAF) has launched a ‘Ejar wa Ajr (Rent and Get Rewarded)’ initiative to provide sustainable endowment residential options in its real estate portfolio with simplified conditions.
Valid until end- 2019, the initiative offers elderly Emirati citizens, people of determination, as well as employees of local and federal government entities a 10 percent discount on the rental value of vacant units within AMAF’s property portfolio. In addition, members of Dubai SME can benefit from a 20 percent discount on the rental value of AMAF’s vacant commercial units.
The rental income from these properties that are managed by Deyaar Property Management will be allocated to the development of AMAF’s endowment projects. The rental contract will be signed directly at the Deyaar offices.
His Excellency Ali Al Mutawa, Secretary General of AMAF, said: “The new initiative expands the group of beneficiaries within our residential and commercial property portfolio. We are confident the Rent and Reward scheme will witness a high uptake from our stakeholders as it not only provides them with access to user-friendly facilities, but also gives them the opportunity to support endowment projects that empower underprivileged segments of our society.”
He added: “Launching this initiative that seeks to benefit wider segments, boost socioeconomic development, and expand individual contributions in supporting endowment was inspired by the Letter of the New Season from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. This message at the end of August 2019, highlighted other aspects, the need to regulate and control the pace of work on real estate projects so that they add tangible value to the economy.”