Abu dhabi: Emirati businessman Faraj Ali Bin Hamoodah, a prominent figure in Abu Dhabi's business community, has allocated a building worth AED 30 million to support the 'Mother of the Nation Endowment for Orphans' initiative.
According to Emirates News Agency, the initiative was launched in the Year of the Family by the Endowments and Minors' Funds Authority - Awqaf Abu Dhabi, under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. It seeks to establish a sustainable endowment fund dedicated to improving the lives of orphans in the UAE, focusing on essential sectors such as education, healthcare, and dignified living.
The donation of a building as an endowment asset showcases a model for using real estate as a long-term development resource. The property will be managed through an approved endowment mechanism to generate sustainable returns directed towards orphan care.
Faraj Ali Bin Hamoodah emphasized the importance of investing in people, describing it as the highest form of investment. He highlighted the initiative as a tool for sustainable development that ensures ongoing support and enhances humanitarian efforts. He called for collective efforts from individuals and institutions to strengthen social solidarity, aiming to secure a stable future for orphans by dedicating this building as a permanent endowment asset.
Fahad Abdulqader Al Qassim, Director General of the Endowments and Minors' Funds Authority, described the contribution as a significant act of community solidarity and a catalyst for further participation in the initiative. He encouraged contributions of all sizes, emphasizing that every effort contributes to a comprehensive support system for orphans in the UAE.
This contribution is part of a series of initiatives under the 'Mother of the Nation Endowment for Orphans' initiative, aiming to modernize endowment practices and transform contributions into sustainable assets, thereby extending the cycle of giving and creating a lasting impact across generations, in line with the foundational values of UAE society.