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The Dubai Endowment and Minors Trust (Dubai Endowment) has announced the launch of the ‘Well of Water’ giving project, which aims to contribute to Dubai’s global water aid efforts.
The scope of the project includes the development of four residential villas on a 19,880 sq. ft. site in the Al Rashidiya area of ​​Dubai.
It said the four G+1 buildings worth Dh9 million have a combined area of ​​14,595 sq ft. The projected annual rate of return is approximately 10% of the project value.
The initiative is part of the independent “Well of Water” giving program launched by the Dubai Foundation in 2019.
annual proceeds from the endowment will be earmarked for sustainable projects to bring water to the many communities in developing countries hit by natural disasters that lack drinking water sources, it said.
This is the foundation’s second donation, dedicated to supporting the Wells of Hope campaign launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Aims to provide clean water to vulnerable communities around the world.
The inauguration of the new endowment was attended by Saeed Mohammed Al Tayer, Chairman of the Board of Directors of the UAE Water Foundation (Suqia UAE); Essa Abdulla Al Ghurair, Chairman of the Dubai Endowment Foundation; Ali Al Mutawa, Secretary General of the Foundation; and other senior officials.
Saeed Mohammed Al Tayer, Chairman of the Board of Directors of the UAE Water Foundation (Suqia UAE), praised the efforts of the Dubai Endowment Fund and the Minors Trust, as well as its efforts to generate sustainable income and provide clean water to communities around the world. Suffering from water shortage and pollution.
Founded in March 2015, the initiative has positively impacted the lives of more than 13.6 million people in 37 countries around the world through more than 1,000 sustainable water projects, according to Al Tayer.
He added that UAE Soucia has contributed to solving the global water crisis by developing practical solutions to water scarcity and providing potable water to communities suffering from water scarcity and pollution.-TradeArabia News Service
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