Abu Dhabi: Awqaf Abu Dhabi has signed a AED100 million agreement with LuLu Group International to develop commercial projects on endowment land, with revenues aimed at supporting orphans across the UAE.
The Memorandum of Understanding (MoU) was signed by Ashraf Ali M.A., Executive Director of LuLu Group International, and Fahd Abdulqader Al Qassim, Director General of Awqaf Abu Dhabi, in the presence of Yusuff Ali M.A. and other senior officials.
The partnership forms part of the “Mother of the Nation Endowment for Orphans” initiative launched under the patronage of Sheikh Mohamed bin Zayed Al Nahyan.
Under the agreement, Awqaf Abu Dhabi will allocate endowment land for development, while LuLu Group will lead the construction, project delivery, and operations. Returns from the commercial developments will be used to support long-term care programmes and improve the quality of life for orphans in the UAE.
Officials said the initiative reflects a modern endowment investment model, combining asset management with professional commercial development to generate sustainable funding for social and charitable programmes
