Dubai-based conglomerate Al Habtoor Group will donate 20 percent of its overall profits to a newly established foundation that will support a range of charitable activities, its chairman said.
The group, which was projected to report earnings of US$191.8m last year, said the Khalaf Ahmed Al Habtoor Foundation will focus its efforts on “developing and improving human societies in need in the UAE” and “provide relief and assistance to communities around the world”.
“This will be 20% of overall profits from the group, in addition to our zakat fund”, Khalaf Al Habtoor said at the official launch of the foundation.
“It will support many different activities including supporting the needy in the UAE, education initiatives and medical centres,” he added.
