Awqaf Dubai has announced 21 endowment real estate projects worth more than AED 202 million (approximately $55.4 million), marking one of the largest expansions of waqf-backed property development in the emirate in recent years. The initiative is spearheaded by the Endowments and Minors' Trust Foundation under AWQAF Dubai and is directly aligned with Dubai Plan 2033.
21 Projects Spanning Malls, Residences, and Mosques
The Awqaf Dubai real estate projects cover a broad range of asset classes: shopping malls, residential buildings, retail shops, and mosques. The developments are situated in key locations across central Dubai, including planned endowment malls in emerging residential neighbourhoods.
Projects are currently at various stages of design and implementation. Construction timelines run from one to two years, with some schemes targeted for completion before the end of 2024 and the majority expected to be delivered by mid-2025.
Multi-Purpose Endowments for Community Benefit
All 21 projects are designed to serve multiple community purposes — educational, humanitarian, general charitable, and religious. Funding is drawn from contributions and donations made by endowment supporters, supplemented by the reconstruction portfolio managed by AWQAF Dubai.
Secretary-General: Projects Reflect Sheikh Mohammed's Vision
Ali Al Mutawa, Secretary-General of AWQAF Dubai, said the real estate projects form a core part of Dubai's development strategy and are fully aligned with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
"All such efforts are in line with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum," Al Mutawa stated, adding that AWQAF Dubai is committed to the timely delivery of these projects while continuously introducing new endowment programmes.
He also underscored the authority's focus on expanding endowment initiatives that promote community welfare, improve quality of life for residents, and strengthen Dubai's economy.
Green Buildings and Contemporary Architecture
A notable feature of the portfolio is its emphasis on modern green building standards and contemporary architectural design — reflecting AWQAF Dubai's commitment to sustainability and building a prosperous future for the emirate.
The projects represent a significant step in diversifying Dubai's endowment investment base beyond traditional assets, supporting the emirate's long-term economic and social objectives under the Dubai Plan 2033 framework.
