Ground broken on $2.5m residential complex in Dubai
The five-villa project, which is being developed by Awqaf and Minors Affairs Foundation, is expected to generate $204,187 in annual revenues
Awqaf and Minors Affairs Foundation (AMAF) has commenced construction works on a charity and endowment residential complex in Al Garhoud, Dubai.
Present at the ground-breaking event was AMAF deputy secretary-general Khaled Al Thani, who laid the foundation stone for the five-villa project.
With an estimated construction cost of $2.5m (AED9m), the property is expected to generate $204,187 (AED750,000) in annual revenues, UAE state news agency, WAM, reported.
Each of the five villas will have a built-up area of 364m2 and will include five master bedrooms, a living room, a dining room, a kitchen, a maid’s room, a swimming pool, and two parking spots.
Commenting on the project, Al Thani, said: "AMAF seeks to inculcate noble values in society through encouraging tolerant religious practices and ideals that emphasise the importance of empathy towards all, especially the underprivileged.
“These efforts align with the UAE’s strategy that is spearheaded by HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, and aims to strengthen the cohesiveness of our society and protect its identity."
He added: "During the Year of Zayed, we celebrate the legacy of the founding father of the UAE, the late Sheikh Zayed bin Sultan Al Nahyan, who dedicated his life to help those in need and reinforce values of solidarity and collaboration.
“In line with this proud legacy, we are committed to financing the construction of mosques and enhancing partnerships in this regard."