Al Jalila Foundation, the global charitable organization dedicated to improving the lives of individuals through education and research in the medical fields, has announced the establishment of a seven-storey residential endowment worth AED 46 million to benefit from its proceeds to finance education and research programs in medical fields at the Dubai Academic Health Foundation and contribute to Developing the health care sector in the country.
The Al Jalila Foundation, which represents the giving arm of the Dubai Academic Health Corporation, aims, through the establishment of the Oud Metha residential endowment, to allocate 8% of the endowment’s rental revenues to support pioneering research aimed at improving the lives and health of individuals.
On this occasion, Dr. Amer Al Zarouni, Executive Director of Al Jalila Foundation, said: “As part of our efforts to support the ways of giving in the Dubai Academic Health Corporation, we always strive at the Al Jalila Foundation to develop innovative financial models that support our projects and programs. Since its inception in 2013, the Al Jalila Foundation has launched four endowment buildings, one of which is considered the first endowment to be built in the UAE, with the aim of supporting research in the medical fields. Our latest endowment will contribute to providing continuous income and will provide an opportunity for donors to contribute to educational and medical research programs that play an important role in supporting our mission to improve human health.”
The building will be constructed on land granted by the Government of the Emirate of Dubai, and construction work is expected to start during 2023 and to be completed by the end of 2024. The building, which was commissioned by Arif and Bin Touq Engineering and Architectural Consultants to design, consists of 60 housing units of varying size and includes apartments.” Studios are small, one-, two- and three-bedroom apartments. The building also includes a sports club equipped with the latest equipment, in addition to a children’s play area.
The value of the endowment project, amounting to 46 million dirhams, was divided into 46,000 shares, at a value of 1,000 dirhams per share. And the “Sharafy Holding” company took the initiative, as it contributed an amount of one million dirhams through the purchase of 1,000 endowment shares, thus representing an inspiring model for donors and white hands to follow.
In an effort to expand communication with donors across various platforms and social media channels, Al Jalila Foundation is now offering endowment project shares for purchase on its website, providing an easy and quick way for individuals to contribute to the endowment fund.
Dr. Amer Al Zarouni added: “The advantage of buying new shares via the website allows individuals to quickly and easily access the service safely, which enables donors at any time and time to participate in a national charitable project that aims to advance the development of the health care sector in the country and bring about positive change in improving standard of living of individuals.
For more information or to purchase shares, you can contact Al Jalila Foundation at +971 4 383 8012 or via the website at https://www.aljalilafoundation.ae/get-involved/endowment-waqf/