Emaar Properties has announced an additional contribution of AED62 million ($16.8 million) to Sandooq Al Watan, the philanthropic fund set up by Emirati entrepreneurs and the private sector to nurture UAE youth talents.
One of the largest contributors to Sandooq Al Watan, Emaar had earlier contributed AED84 million, taking its total monetary commitment for the national initiative to AED146 million during 2016/17.
The fund has been instituted to help prepare the nation for the post-oil era by nurturing national talents, promoting social enterprises, and building a sustainable knowledge-based economy.
Mohamed Alabbar, chairman of Emaar Properties, said: “The private sector has benefited tremendously from governmental support, and it is time for us to give back to our nation. As we prepare for the post-oil era, it is important to invest in our country’s most powerful resource – our talented youth.
"We must create the infrastructure to nurture their talents and support them to become successful entrepreneurs, who in turn contribute to our nation’s sustained progress and prosperity.”
Sandooq Al Watan works with the private sector to create a platform that motivates the youth. It has announced the launch of its Future Initiative that will support the building of a knowledge economy by adopting innovative ideas and supporting them to become competitive enterprises.
To be implemented in phases, the initiative aims to create a new generation of UAE National companies that will support the building of the economy of the future.
Lieutenant General Dhahi Khalfan Tamim, chairman of Sandooq Al Watan, thanked Emaar, saying: “Emaar is a model for success and has set a proud example of corporate social responsibility by investing in creating a better future for our country and providing the highest levels of prosperity for our community.”
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.