Gulf News: Dubai: The Endowments and Minors’ Funds Authority - Awqaf Abu Dhabi has signed a memorandum of understanding with MAIR Group PJSC to develop projects valued at Dh200 million on endowment land in Abu Dhabi.

The planned developments are intended to strengthen the sustainability of endowment returns through investments in real estate and other assets.

Under the agreement, Awqaf Abu Dhabi will allocate endowed land for the projects, while MAIR Group, through its real estate arm Makani Real Estate, will oversee development, management and implementation.

The projects aim to generate stable returns that will support programmes focused on the care and wellbeing of orphans in the UAE.

The initiative supports the “Mother of the Nation Endowment for Orphans” campaign launched under the patronage of Mohamed bin Zayed Al Nahyan.

The campaign seeks to create a sustainable endowment funding source dedicated to orphan care programmes and improving their social and economic stability.

"“This agreement represents an advanced model for leveraging endowment assets within a sustainable investment framework that enhances their efficiency and multiplies their social and economic impact," said Fahd Abdulqader Al Qassim.

Long-term social value
"Through these strategic partnerships with the private sector, we aim to transform endowment assets into sustainable development drivers capable of generating long-term returns that support priority social initiatives," added the Director General of the Endowments and Minors’ Funds Authority – Awqaf Abu Dhabi.

“The development of projects on endowed land aligns with the Authority’s strategic direction to build a modern endowment ecosystem grounded in strong governance and institutional investment, ensuring the preservation and growth of assets while maximising their impact across generations.”

Nehayan Hamad Alameri, Managing Director and Group CEO of MAIR Group, said the company plans to deliver development projects in line with operational standards aimed at generating sustainable returns.

He said the partnership reflects the group’s commitment to supporting national initiatives that create long-term social value through the development of endowment assets.

Awqaf Abu Dhabi said the initiative forms part of broader efforts to strengthen the endowment ecosystem in the emirate through investment partnerships designed to increase the financial and social impact of endowment assets.