His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has viewed the plans for the AED 800 million "Billion Meals Endowment" tower, to be built on Sheikh Zayed Road.
The UAE’s tallest endowment tower is part of the 1 Billion Meals Endowment initiative’s 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.
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).
“We 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,” His Highness Sheikh Mohammed bin Rashid said.
“We aim to ensure the sustainability of our humanitarian efforts by creating a new model that derives from the UAE’s economic development,” he added.
His Highness 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, analysing 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.
Mohammad Al Gergawi, Secretary General of Mohammed bin Rashid Al Maktoum Global Initiatives and Chairman of the 1 Billion Meals Endowment Board of Trustees, said, “The 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.”
He also noted that the establishment of premium real estate endowments aligns with MBRGI’s mission of institutionalizing humanitarian, aid and social efforts.
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. “MBRGI continues to carry out sustainable projects that provide security and stability to underprivileged individuals, alleviating their suffering and positively impacting their communities,” he concluded.
ضمن متابعاتنا للمشاريع الإنسانية … اطلعت على برج "وقف المليار وجبة" .. أعلى برج وقفي في الإمارات.. يقع على شارع الشيخ زايد باستثمارات 800 مليون درهم … خطوة جديدة لتنمية أصول الوقف بما يضمن استدامة واستمرارية العمل الإنساني الإماراتي للعقود القادمة بإذن الله . pic.twitter.com/ns7XBbFNJB
— HH Sheikh Mohammed (@HHShkMohd) March 2, 2024
Abu Dhabi markets free of non-Halal Mars products
ERC unveils new phase of projects for earthquake-affected Syrians
Watch: Smart marine scraper keeps Dubai's waters clean
Muslim Council of Elders commends UAE's rejection of Israeli PM's statements
Fog warning issued to Abu Dhabi motorists
