Project Funded by Late Hamel bin Khadem Al Ghaith Al Qubaisi’s Endowment Comprises 72 Apartments
Dubai-UAE: 4 March, 2017: Awqaf and Minors Affairs Foundation (AMAF) has inaugurated its new endowment residential project in Al Warqaa area in Dubai, funded by the endowment of the late Emirati philanthropist Hamel bin Khadem Al Ghaith Al Qubaisi.
The Foundation will use the proceeds to finance its Family Village that provides shelter, education, psychological and healthcare support to orphans in a balanced and stable environment.
The project consists of twin residential buildings with six floors each in addition to a ground floor, comprising a total of 72 apartments ranging from one to three bedrooms. The built-up area spans 11,580 square feet. With a cost of almost AED40 million, the project is expected to generate AED4.650 million in annual returns.
Dr Ghaith bin Hamel Al Ghaith, Vice Chairman of Al Ghaith Holding, son of the late benefactor, attended the inauguration ceremony. His Excellency Khaled Al Thani, Deputy Secretary General of AMAF, Ahmad Abu Shehab, Director of AMAF’s Waqf Development, and several other senior officials from AMAF also participated in the event.
His Excellency Khaled Al Thani said: “The launch of AMAF’s latest residential project aligns with the Foundation’s efforts to secure the financial resources needed to run and develop Family Village. The buildings offer modern residential options that satisfy the requirements of UAE citizens and residents alike with high quality and affordable prices.”
He expressed his utmost appreciation for the support the late Hamel bin Khadem Al Ghaith Al Qubaisi extended to AMAF and its projects. He stressed that the contributions of businessmen and philanthropists in the UAE enhance social solidarity and enable the Foundation to develop and expand its services to orphans and minors.
For his part, Dr Al Ghaith said: “I am pleased to see this important residential project completed with the support of my father’s endowment. In line with the directives of the UAE’s wise leadership, organizations like AMAF play a significant role in advancing the UAE’s humanitarian agenda through structured endowment-based projects.”
He called on major institutions and companies in the UAE to join hands with entities such as AMAF to support and care for the orphans and honor them.
Touring the new project, the guests applauded the spacious and modern apartment units that they believed would efficiently meet the housing demand in an area that is experiencing rapid growth due to its central location.