Abu dhabi: The Endowments and Minors' Funds Authority - Awqaf Abu Dhabi has entered into a significant Memorandum of Understanding with LuLu Group International. This partnership aims to develop a series of commercial projects valued at AED100 million on endowment land owned by Awqaf Abu Dhabi. The financial returns from these projects are intended to enhance long-term care and improve the quality of life for orphans across the UAE.
According to Emirates News Agency, the agreement was formalized by Ashraf Ali M.A., Executive Director of LuLu Group International, and Fahd Abdulqader Al Qassim, Director General of Awqaf Abu Dhabi. The signing ceremony was attended by key figures, including Yusuff Ali M.A., Chairman of LuLu Group International, Abdul Hamid Mohammed Saeed, Chairman of Awqaf Abu Dhabi, and Dr. Mugheer Khamis Al Khaili, Secretary-General of Erth Zayed Philanthropies.
This MoU is part of the 'Mother of the Nation Endowment for Orphans' initiative, which operates under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. Through this agreement, Awqaf Abu Dhabi will allocate endowed land for development, while LuLu Group International will oversee project delivery and operations.
The returns generated from these developments are expected to support the initiative's long-term goals and contribute to the expansion of Awqaf Abu Dhabi's wider social and charitable programs. Fahd Abdulqader Al Qassim emphasized the importance of pairing endowment assets with professional investment and operational expertise, highlighting the partnership as a model for modern, governance-led endowment management that maximizes social value.
Yusuff Ali M.A. noted the critical role of the private sector in supporting national priorities through responsible investments. He stressed LuLu Group International's commitment to quality and efficiency, aiming to deliver sustainable returns that benefit the community.
This agreement marks a strategic move for Awqaf Abu Dhabi to enhance its institutional approach to endowment development, focusing on asset preservation and measurable financial and social impacts. The projects under the MoU will be evaluated against established performance and impact metrics to ensure they fulfill both fiduciary and community needs.