Home / Breaking News / Dubai First City in the world to integrate the lifestyle of its residents with endowment estimated at $3.3 billion

Dubai First City in the world to integrate the lifestyle of its residents with endowment estimated at $3.3 billion

Dubai_ Massader News



The residents of Dubai city are living in a community associated with charity after His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President, Prime Minister of the UAE and Ruler of Dubai adopted the concept of ‘The Innovative Endowment Journey in Dubai,’ thus making it the first world’s city to integrate the concept of innovative endowments with the day-to-day activities of the residents.


The innovative endowments in Dubai provide community services through assets standing at $3.3 billion for the first year, and more than 80 endowment initiatives since inception, according the first annual results announced by Mohammed bin Rashid Global Centre for Endowment Consultancy (MBRGCEC), an endowment consulting institution launched a year ago by the Ruler of Dubai in order to revive endowment as a developmental tool for community.


However, innovative endowment will not be confined to real estate, which is the traditional endowment method through centuries in the Arab world. Instead, it is based on a new concept by linking endowment to any type of assets and sustainable services thus making it a part of the daily life of every resident in Dubai.


For example, a Dubai resident can start his/her day by taking an Endowment taxi in the morning; the fare contributes to social campaigns.  He/she can also listen to one of the two Endowment radio stations, which promote young entrepreneurs by offering free advertising for their new ventures.


By paying fees to hospitals that feature Endowment rooms, Dubai’s residents can contribute to the treatments for future patients.


Moreover, they can also contribute to an endowment for cancer research by participating in auctions organized by one of the institutions that adopt the innovative endowment concept.


Other ways include contributing to childrens’ welfare through transaction fees paid at any of the endowment service centres, support reading for orphans’ through choosing to sit on an Endowment table at designated cafes in Dubai and supporting autistic children by buying newspapers that support endowment advertising.


Meanwhile, Dubai sports enthusiasts will help support health campaigns when they buy tickets to watch a match at the first Endowment sports stadium in the world.


These are some of the many creative endowment ideas, which are being implemented by the Endowment Consultancy in order to transform Dubai into a global and innovative model for all communities.


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