DUBAI: The Awqaf and Minors Affairs Foundation (AMAF) in Dubai implemented 29 endowment projects at a total cost of over Dh1 billion from 2006 to 2014, an official said on Saturday. Tayyeb Abdul Rahman Al Rais, secretary-general of the foundation, said these projects generated annual revenues of more than Dh84 million.
“Dubai is keen to provide support needed by different segments of society, especially orphans and minors, in line with the emirate’s ongoing efforts to secure the quality of life and ensure a safe and stable environment that brings smiles to the faces of its citizens and visitors alike,” Al Rais said.
He said 11 endowment projects launched by the foundation in 2015 are expected to be completed by 2018 at a cost of Dh90.5 million. These include construction of mosques, residential buildings and villas in Al Bada’a, al Satwa, Al Warqa’a, Hor Al Anz, and Jumeirah and commercial shops in Al Muhaisnah. Some of these projects are expected to generate revenues of more than Dh9 million a year.
On investment projects launched by the foundation over the past eight years, Al Rais said in 2006, the AMAF completed construction of three buildings at a total cost of approximately Dh5.44 million and posted annual revenues of over Dh1.65 million. In 2007, the foundation completed construction of Rashidiya Grand Mosque and the Shaikha Latifa waqf building at Al Warqa’a at a total cost of Dh17.5 million, which registers annual revenues of nearly Dh3.2 million.
