The Endowment and Minors’ Trust Foundation (Awqaf Dubai) has announced the launch of a new AED 73 million shopping centre in Hind City, aimed at generating funds to support mosque affairs across Dubai. Developed in partnership with Voco Investments, the project is set to be completed within two years and will feature 40 retail outlets across two floors.
The shopping centre will occupy a 90,400-square-foot plot, with construction costs estimated at AED 50 million and land costs at AED 23 million. Awqaf Dubai anticipates that the centre will generate around AED 8.4 million in annual rental income, leading to total estimated returns of AED 68 million over the investment period.
Ali Mohammed Al Mutawa, Secretary General of Awqaf Dubai, emphasized the project’s goal of creating sustainable returns while maximizing the value of endowment assets for community benefit. He noted that directing the proceeds towards mosque affairs reinforces the vital role of endowments in supporting mosques and addressing their needs.
This initiative reflects Awqaf Dubai’s commitment to enhancing community welfare through strategic investments that yield long-term benefits. The shopping centre is expected to play a significant role in sustaining mosque operations and services, thereby contributing to the overall development of the emirate.
For further details, you can read more from the Dubai Media Office.
