The UAE has planned its tallest charity endowment tower located in Dubai to sustain the country’s food aid efforts.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai reviewed plans for the ‘1 Billion Meals Endowment’ tower.
Developed at a cost of AED800 million ($217,805,600 approximately), the tower forms part of projects by the 1 Billion Meals Endowment initiative, the Dubai Media Office (DMO) said in a statement.
This aims to grow endowment assets and achieve highest returns to help provide a food safety net for tens of millions worldwide.
During a meeting with the initiative’s Board of Trustees, Sheikh Mohammed also reviewed latest projects and investment ideas.
“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,” Sheikh Mohammed 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.
Returns from the real estate endowment will be dedicated to providing a food safety net millions worldwide, helping overcome malnutrition challenges.
The 1 Billion Meals Endowment initiative, launched during Ramadan 2023, has seen massive response, raising AED 1.075 billion in cash donations, shares and real estate assets. It aims sustainably support individuals suffering food insecurity as well as vulnerable groups globally.
“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,” Mohammad Al Gergawi, Secretary General of Mohammed bin Rashid Al Maktoum Global Initiatives and Chairman of the 1 Billion Meals Endowment Board of Trustees added.
Follow us on
