Khalaf Ahmed Al Habtoor, founder and Chairman of the Al Habtoor Group, announced the signing of a joint endowment agreement to establish a residential building project donated for charity in honor of Khalaf Al Habtoor’s parents, on a plot of land among the lands belonging to the Sheikh Rashid bin Humaid Al Nuaimi Endowment in the Emirate of Ajman.
The agreement includes the construction of a residential endowment building on one of the plots of land belonging tot he Sheikh Rashid bin Humaid Al Nuaimi Endowment. The project's entire area is 3,720 square metres, with a cost of approximately 9 million UAE dirhams.
This endowment residential building seeks to provide residential units for rent and investment, this step is considered a tribute to the memory of the late, God willing, Ahmed Mohammed Al Habtoor and Noura Ahmed Al Otaiba, Khalaf Al Habtoor's parents and the driving force behind his success.
In this context, Khalaf Al Habtoor, said: " I am pleased with this cooperation with the Humaid bin Rashid Al Nuaimi Charitable Foundation, which expresses our common objective of creating a society based on solidarity and interdependence. It also represents our commitment to working together and in solidarity to promote humanitarian activities and achieve social sustainability. Our interest in the charitable endowment stems from a sense of responsibility to our community and a desire to help achieve solidarity among all members of society while also spreading goodness and giving. I hope this collaborative endeavour and this project to serve as an ongoing charity for my parents' souls, as well as a sustainable good that benefits them."
This project builds on the Al Habtoor Group's previous endowment projects in Dubai, including the Al Habtoor Charitable Endowment in the Al Quoz area, and the charitable Endowment in the name of Hamda bint Rashid Al Suwaidi in the Al Bidaa area, which were carried out in collaboration with the Endowments Foundation and the Management of Minors' Funds. The revenues from both are used for charity and charitable efforts, as well as for the care of Al-Farouq Omar Bin Al-Khattab Mosque and Centre, may God be pleased with him in Dubai.
The Humaid Bin Rashid Al Nuaimi Charitable Foundation, for its part, applauded Khalaf Al Habtoor's effort to establish a new endowment within Sheikh Rashid bin Humaid Al Nuaimi's Endowment Complex, may God rest his soul, which will be added to the present endowments, which total five.
Tariq Abdullah Mohammed Al Awadi, General Manager of the Humaid Bin Rashid Al Nuaimi Charitable Foundation, thanked Khalaf Al Habtoor for his ongoing support and initiative in ensuring the success of the Sheikh Rashid Bin Humaid Al Nuaimi Endowment Complex Project, which will allow the Humaid Bin Rashid Foundation to double its investment in the endowment. With other buildings that help to make the Emirate of Ajman one of the most visible cities, characterised by a sense of solidarity and generosity.
He added: "The Humaid bin Rashid Al Nuaimi Charitable Foundation's endowment complex project is running successfully, as decreed, after His Excellency Khalaf Al Habtoor joined as a partner in its success, along with many other contributing charitable entities and institutions, such as the Beit Al Khair Society and the philanthropists Ghanem and Faraj bin Hamouda. This endowment complex by Sheikh Rashid bin Humaid Al Nuaimi provides an opportunity for philanthropists and compassionate individuals to create endowments and distribute the revenues to the needy in collaboration with our charity foundation."
In the same context, Al-Awadi confirmed that several endowments have been completed on the land area of this endowment project, including a mosque and buildings, and that work is still underway to ensure the project's success through the endowments that will be built, as the endowment project consists of 15 plots of land designated for the construction of endowment structures. It has a total area of 25,243 square metres and is located in the Liwara 2 area in Ajman.
This project exemplifies Al Habtoor‘s ongoing commitment to social responsibility by helping to build society, supporting charitable efforts, and encouraging social investments that benefit the local community and encourage long-term growth.