His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reviewed in the presence of Mohammad Al Gergawi; Secretary General of Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), and Hisham Al Qassim; CEO of Wasl Asset Management Group, plans for the \u20181 Billion Meals Endowment\u2019 tower, the UAE\u2019s tallest endowment tower located on Sheikh Zayed Road. Developed at a cost of AED 800 million, the tower is part of the 1 Billion Meals Endowment initiative\u2019s projects aimed at growing the endowment assets and achieve the highest returns to help provide a food safety net for tens of millions of people around the world.<\/p>\n\n\n\n
During his meeting with the 1 Billion Meals Endowment Board of Trustees, His Highness Sheikh Mohammed bin Rashid also reviewed the latest projects and investment ideas under the initiative, which is operated under the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI).<\/p>\n\n\n\n
\u201cWe want our humanitarian work to last for hundreds of years in the name of the UAE people. This project is a key step in our efforts to grow the endowment assets, all contributing to the main purpose of protecting vulnerable people everywhere from the risks of hunger,\u201d His Highness Sheikh Mohammed bin Rashid said.<\/p>\n\n\n\n
\u201cWe aim to ensure the sustainability of our humanitarian efforts by creating a new model that derives from the UAE\u2019s economic development,\u201d he added.<\/p>\n\n\n\n
International standards
\nHis Highness Sheikh Mohammed bin Rashid was briefed during the meeting on the design and international standards adopted for the tower, which is being developed by Wasl Properties. He also reviewed the results of a study conducted by the Board of Trustees, analyzing the potential investment risks of the new project, including selecting the investment promising the best returns and least risks, its compatibility with endowment laws and operating its capital in accordance with relevant regulations.
\nEstablishing endowments
\nMohammad Al Gergawi, Secretary General of Mohammed bin Rashid Al Maktoum Global Initiatives and Chairman of the 1 Billion Meals Endowment Board of Trustees, said: \u201cThe endowment tower embodies the visions and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum to launch sustainable humanitarian projects that establish endowment work and bolster the future of UAE humanitarian efforts.\u201d<\/p>\n\n\n\n
He also noted that the establishment of premium real estate endowments aligns with MBRGI\u2019s mission of institutionalizing humanitarian, aid and social efforts.<\/p>\n\n\n\n
Returns of the new real estate endowment will be dedicated to providing a food safety network to millions of people around the world, helping them overcome malnutrition and its challenges, he stressed. \u201cMBRGI continues to carry out sustainable projects that provide security and stability to underprivileged individuals, alleviating their suffering and positively impacting their communities,\u201d he concluded.<\/p>\n\n\n\n
Great addition
\nHisham Al Qassim, CEO of Wasl Asset Management Group, said: \u201cCharity and humanitarian efforts in the UAE continue to gain momentum with the support of our wise leadership\u2019s visions and directives. This helps aid underprivileged populations and extend the reach of Emirati charity drives.<\/p>\n\n\n\n
\u201cThe upcoming tower is a great addition to the UAE record of charity work, as well as to the MBRGI\u2019 efforts to support vulnerable individuals and meeting their nutrition needs. The endowment tower, which will be built according to the highest international standards to achieve the best possible returns, will significantly contribute to objectives of the 1 Billion Meals Endowment, and an extension of the success of previous Ramadan charity drives,\u201d he added.<\/p>\n\n\n\n
Growing the endowment assets
\nCombining traditional and social investment models, the new endowment tower aims to sustainably invest its endowed capital, adding more assets to the 1 Billion Meals Endowment initiative while dedicating proceeds to meeting food needs of underprivileged populations.
\nThe 1 Billion Meals Endowment initiative, launched in Ramadan 2023 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, has seen a massive response and raised AED 1.075 billion by the end of the month in cash donations, shares and real estate assets. The initiative aims to provide sustainably support individuals in countries suffering with food insecurity, as well as vulnerable groups including victims of disasters and conflicts around the world. Additionally, the 1 Billion Meals Endowment initiative maximizes UAE\u2019s efforts towards the global endeavor to end hunger.<\/p>\n","protected":false},"excerpt":{"rendered":"
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reviewed in the presence of Mohammad Al Gergawi; Secretary General of Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), and Hisham Al Qassim; CEO of Wasl Asset Management Group, plans for the \u20181 Billion Meals …<\/p>\n","protected":false},"author":4,"featured_media":58210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-58209","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/58209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=58209"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/58209\/revisions"}],"predecessor-version":[{"id":58211,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/58209\/revisions\/58211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/58210"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=58209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=58209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=58209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}