August 23, 2023
2 mins read

Al Jalila Foundation Commits AED 46 Million for Medical Education & Research

Our latest endowment will generate sustainable income, while giving donors the opportunity to contribute towards impactful medical education and research programmes…reports Asian Lite News

Al Jalila Foundation, a global philanthropic organisation dedicated to transforming lives through medical education and research, announced today that it is developing an AED46 million endowment that seeks to generate revenue to fund the medical education and research programmes of Dubai Academic Health Corporation (DAHC).

The seven-floor residential building, ‘Oud Metha Residential Building Endowment’, is projected to yield an 8 per cent return to advance pioneering research to transform lives.

Amer Al Zarooni, CEO of Al Jalila Foundation, said, “In our efforts to support DAHC’s giving mission, we are continuously seeking innovative financial models to support our projects and programmes. Since its inception in 2013, Al Jalila Foundation has launched four building endowments, including the UAE’s first medical research endowment.

Our latest endowment will generate sustainable income, while giving donors the opportunity to contribute towards impactful medical education and research programmes, aligning with our vision to advance health for humanity.”

Scheduled to commence construction in 2023 on land granted by the Government of Dubai, the prestigious ‘Oud Metha Residential Building Endowment’ is set to reach completion by the end of 2024.

Designed by Arif & Bintoak Consulting Architects and Engineers, it will consist of 60 apartments ranging from studios to one, two and three-bedroom apartments. The residential building will also house a state-of-the-art gym and a children’s play area.

The AED46 million value of the endowment has been divided into 46,000 shares each valued at AED1,000. Sharafi Holding has already taken the lead in contributing AED1 million towards the endowment with the purchase of 1,000 shares, setting an inspiring example for other prospective donors to follow.

In efforts to amplify donor outreach across diverse multi-channel platforms, Al Jalila Foundation now offers shares for purchase online providing a seamless and convenient way for individuals to contribute to the Endowment Fund and drive positive change.

Amer added, “The new online share purchasing feature embodies simplicity, accessibility, and security, enabling benefactors from anywhere, at any time, to participate in driving positive change.” (ANI/WAM)

ALSO READ: Dreamwork Collective to Showcase UAE Authors

Previous Story

Moonbox Gains Strategic Investment from BingX’s Bing Ventures

Next Story

US Commerce secy Raimondo due in China next week

Latest from Economy

Gates to Give 99% Away 

Spread out over time, this will enable the foundation to invest an additional $200 billion (£150.8 billion) in its core focus areas, primarily global health and U.S. education, over the next two

Interest Rates Cut

Interest rates have been cut to 4.25% from 4.5% and the governor of the Bank England has hinted more could follow in the coming months UK interest rates have been cut to

India Eyes Top 5 Spot in Global Entertainment

With focused investments, policy support, and infrastructural upgrades, India is on track to position itself as one of the top five live entertainment destinations globally by 2030…reports Asian Lite News Fueled by

Pakistan on the Brink: War, Weakness, Woes

The reason behind growing anxiety and consternation in Islamabad is the depleting reserves of its military’s artillery and ammunition and also a ruined economy…reports Asian Lite News As the tensions between India
Go toTop

Don't Miss

A prayer hall for three faiths

The project is supervised by the Higher Committee of Human

Sheikh Zayed Festival Breaks 4 Guinness World Records

A unique laser show, a first in the region for