Dubai Has Launched A New Endowment Project Called The "Well of Water"

Aim At Contributing To Dubai’s Global Water Aid Efforts

Valued at AED9 million, the four G+1 buildings cover a total area of 14,595 sq ft.  The expected annual returns account for about 10% of the project value, it stated.

This initiative is part of the independent ‘Well of Water’ endowment projects commenced by Dubai Endowment in 2019.

The annual proceeds from the endowment will be dedicated to implementing sustainable projects to provide water to many communities that lack potable water sources in developing countries suffering from natural disasters.

According to the report, this is the Foundation’s second endowment project dedicated to supporting the "Well of Hope" campaign launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to provide clean water to disadvantaged communities across the world.

Saeed Mohammed Al Tayer, Chairman of the Board of Trustees of the UAE Water Foundation (Suqia UAE), Essa Abdulla Al Ghurair, Chairman of the Dubai Endowment Foundation, Ali Al Mutawa, Secretary-General of the Foundation, and other high-ranking officials were at the opening ceremony for the new endowment.

Saeed Mohammed Al Tayer, Chairman of the Board of Trustees of the UAE Water Foundation (Suqia UAE), commended the efforts of the Endowment and Minors’ Trust Foundation in Dubai and its endeavour to generate sustainable revenues that contribute to providing clean water to communities suffering from water shortages and pollution around the world.

Established in March 2015, the initiative has positively impacted the lives of more than 13.6 million people in 37 countries worldwide through more than 1,000 sustainable water projects, according to Al Tayer.