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Awqaf carries out projects worth Dh1b in 8 years

Dubai - AMAF constructed three buildings at a cost of Dh5.44 million and post annual revenues of over Dh1.65 million in 2006, he added.

 The Awqaf and Minors Affairs Foundation (AMAF) has run 29 endowment projects worth over Dh1 billion in eight years from 2006 to 2014, which have generated annual revenues of more than Dh84 million.
Tayeb Abdul Rahman Al Rais, Secretary-General of the foundation, said the 11 endowment projects undertaken in 2015 are expected to be completed by 2018, at a cost of over Dh90.5 million.
"These include the construction of mosques, several residential buildings and villas at Al Bada'a, Satwa, Al Warqa, Hor Al Anz, and Jumeirah and the commercial shops in Al Muhaisnah," he said, noting that some of these projects are expected to generate revenue of more than Dh9 million a year.
AMAF constructed three buildings at a cost of Dh5.44 million and post annual revenues of over Dh1.65 million in 2006, he added.
"In 2007, the foundation completed the construction of Rashidiya Grand Mosque and the Shaikha Latifa waqf building at Al Warqa at a total cost of Dh17.5 million, which register annual revenues of nearly Dh3.2 million."
Official figures show that the foundation's projects have grown significantly since 2008. "In the same year, 11 buildings were constructed against Dh243.5 million, and together they generate annual revenues estimated at Dh38.7 million."
In 2009, the foundation constructed five more buildings - the largest and most expensive of these included the construction of phase two of a project for low income people at the Al Muhaisnah 4 area. "The total expenditure on these buildings exceeded Dh535.2 million. These projects generate annual revenues of Dh24.8 million for the foundation."
Al Rais noted that in 2010-2012, two commercial and residential buildings were constructed in Al Nahda and Al Warqa areas at a cost of over Dh133 million, which now generate an annual revenue of Dh12.7 million. "AMAF also constructed several villas in Umm Suqeim and Al Barsha at a cost of Dh6.9 million in 2013 that deliver annual revenues of nearly Dh1.2 million."
In 2014, the Khalifa Al Tajer 'green mosque' and the Family Village as well as a building in the grand market area were constructed at a cost of Dh66.3 million, he stated. "These projects generate annual revenue of Dh1.2 million only, as they are majority non-investment projects."
The AMAF Family Village, launched by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in 2015, provides a real home for about 100 orphaned children. "We provide them with accommodation, education, health and psychological care."
Al Rais highlighted that the AMAF Salma international humanitarian relief programme provides a million Halal meals annually to disaster victims around the world.
"The Salma programme is aimed to ease the suffering of people affected by disasters or wars, the programme's wider goals include contributing to enhance food security and eliminate poverty and hunger across the world."
ahmedshaaban@khaleejtimes.com