Abu Dhabi’s Endowments and Minors’ Funds Authority has signed an agreement with LuLu Group International to develop commercial projects worth AED100 million, with the returns aimed at supporting orphans in the UAE.
The projects will be built on endowment land managed by Awqaf Abu Dhabi, with revenue generated from the developments funding long-term care programmes and initiatives designed to improve the quality of life for orphans.
The memorandum of understanding was signed by Awqaf Abu Dhabi Director General Fahd Abdulqader Al Qassim and Ashraf Ali M.A., Executive Director of LuLu Group International.
The partnership forms part of the “Mother of the Nation Endowment for Orphans” initiative, launched under the patronage of UAE President Sheikh Mohamed bin Zayed Al Nahyan. Under the agreement, Awqaf Abu Dhabi will allocate land for development while LuLu Group will oversee the construction and operation of the projects.
Officials say income generated from the developments will support the initiative’s long-term objectives and contribute to wider charitable and social programmes run by the authority.
Awqaf Abu Dhabi said the partnership reflects a broader strategy to develop endowment assets in a way that generates sustainable financial returns while supporting social causes.
LuLu Group Chairman Yusuff Ali said the private sector had an important role to play in supporting national initiatives through responsible investment that delivers lasting benefits for communities.
The projects will be evaluated using performance and impact measures to ensure they deliver both financial returns and social benefits.
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