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The Endowment and Minors’ Trust Foundation in Dubai (Awqaf Dubai) announced the launch of an AED73 million endowment project to build a shopping centre in Hind City, according to a statement from the Dubai Media Office. The development will occupy a 90,400-square-foot plot and consist of two floors accommodating 40 retail outlets offering a range of products and services. Scheduled for completion within two years, the initiative comes in partnership with Voco Investments as part of efforts to expand the foundation’s real estate holdings. Awqaf Dubai manages the project with an emphasis on generating ongoing revenue that aligns with established endowment objectives.
Proceeds from the future shopping centre will support mosque affairs across Dubai, the foundation’s announcement indicated. This allocation continues a pattern in which endowment returns fund religious maintenance and related community services throughout the emirate. The project adds to a series of recent developments aimed at broadening the base of income-producing assets under Awqaf Dubai’s oversight.
Dubai’s overall endowment assets reached AED13.5 billion in 2025, marking a 22 percent increase from AED11.1 billion the previous year, according to the Dubai Endowment Assets Report 2025.[[1]](https://www.wam.ae/en/article/bz4tlo1-dubai%E2%80%99s-endowment-assets-reach-aed135-billion) Real estate constitutes the largest share of that portfolio, valued at AED12 billion, while financial assets stand at AED1.5 billion. The report also placed the total number of endowments in the emirate at 1,294, established by 604 endowers, reflecting wider community engagement in sustainable giving models.
In June 2026 Awqaf Dubai distributed AED74.7 million in endowment investment returns to nine government and semi-government entities, Emirates 24|7 reported.[[2]](https://www.emirates247.com/uae/awqaf-dubai-distributes-aed-747-million-in-endowment-returns-to-support-key-sectors/2226) Those funds supported initiatives in healthcare, education and social welfare, including medical research, programmes for people of determination and humanitarian efforts. The foundation has similarly inaugurated the Bunyan Al Khair project comprising 22 endowment villas valued at AED70 million in collaboration with the Mohammed bin Rashid Housing Establishment, according to a separate Dubai Media Office statement issued earlier in October 2026.
Healthcare-related endowment assets managed by Awqaf Dubai totalled AED552 million as of May 2026, with real estate components valued at AED536 million, a Zawya report drawn from foundation data showed.[[3]](https://www.zawya.com/en/business/investment/awqaf-dubai-grows-its-portfolio-of-healthcare-endowment-assets-to-150mln-344078) Educational endowments grew to AED718 million by early 2026, a 52 percent rise that enabled scholarship support for more than 3,100 students, according to foundation figures cited by Nukta.[[4]](https://nukta.com/dubais-awqaf-reports-52-growth-in-educational-endowment-assets) These specialised portfolios operate alongside the new retail development to diversify revenue while maintaining focus on priority community sectors.
The shopping centre project forms part of a larger wave of endowment real estate initiatives, including contracts signed in March 2026 for AED200 million in developments dedicated to mosque support, WAM reported. Awqaf Dubai oversees both foundation-managed endowments worth billions and those under third-party supervision, ensuring compliance with investment standards that prioritise long-term sustainability. Completion of the Hind City centre is expected to contribute directly to the foundation’s ability to meet rising demand for mosque-related funding across Dubai.
