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UAE’s Dh800 Million Tower to Bolster Global Food Safety through Endowment

UAE's Dh800 Million Tower to Bolster Global Food Safety through Endowment

In a significant humanitarian endeavor, a Dh800 million tower in Dubai is set to bolster endowment assets, contributing to global food security. Part of the ‘1 Billion Meals Endowment’ initiative, this project aims to provide a safety net for millions worldwide facing food insecurity. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has reviewed this landmark project, underscoring the UAE’s commitment to lasting humanitarian impact.

The tower, a pivotal component of the ‘1 Billion Meals Endowment,’ was appraised by Sheikh Mohammed, emphasizing the UAE’s enduring dedication to philanthropy. This project aims to ensure food security for vulnerable populations worldwide, aligning with the nation’s ethos of compassionate leadership. The initiative operates under the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), reflecting the UAE’s broader humanitarian mission.

During the review, Sheikh Mohammed underscored the importance of sustainable humanitarian efforts, envisioning a legacy of enduring support for future generations. The tower’s design and adherence to international standards were highlighted, emphasizing its role in enhancing the UAE’s philanthropic footprint. Wasl Properties is spearheading the tower’s development, ensuring meticulous planning and execution in line with endowment laws and regulations.

Mohammad Al Gergawi, Secretary General of MBRGI, emphasized the significance of the endowment tower in realizing Sheikh Mohammed’s vision for sustainable humanitarian projects. The initiative seeks to institutionalize humanitarian efforts, paving the way for a future where underprivileged individuals receive consistent support. Returns generated from the tower’s investments will fund a global food safety network, addressing malnutrition and fostering community resilience.

Hisham Al Qassim, CEO of Wasl Asset Management Group, lauded the tower as a testament to the UAE’s unwavering commitment to philanthropy. This initiative complements previous charitable endeavors, bolstering the nation’s reputation as a beacon of compassion. By combining traditional and social investment models, the tower aims to grow endowment assets, amplifying the impact of the ‘1 Billion Meals Endowment’ initiative.

The ‘1 Billion Meals Endowment’ initiative, launched in Ramadan 2023, has garnered significant support, reflecting widespread solidarity with global hunger alleviation efforts. Through cash donations, shares, and real estate assets, the initiative has raised Dh1.075 billion, underscoring the UAE’s leadership in addressing food insecurity. By maximizing its contributions to global hunger relief, the UAE reaffirms its commitment to humanitarian values on the world stage.

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