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Sobha donates 100 million euros

Guillaume Giroux on March 25, 2024

Sobha has announced a record donation towards the construction of a new university in Dubai. The renowned developer has made one of the largest private donations ever recorded in the United Arab Emirates. This news demonstrates Sobha's commitment to the development of Dubai.

Construction of a university campus in Dubai by Sobha

As part of its donation, Sobha has committed to building a university campus in Dubai. Valued at 400M AED, or around 100 million euros, this construction is part of the "Mothers' Endowment Campaign", spearheaded by the Emir of Dubai himself. The aim of this initiative is to allocate 1 billion dirham a year, or around 250 million euros, to launch educational projects in Dubai and around the world.

Sobha's deep commitment to Dubai

PNC Menon, founder and chairman of Sobha Realty, said after signing the agreement, "The charitable grant agreement signed with MBRGI is part of our efforts to promote collaboration to implement impactful projects that benefit vulnerable populations in many countries. This agreement is particularly important for Sobha Realty because of its association with the Mothers' Endowment campaign, as well as the Group's commitment to supporting charitable and humanitarian initiatives launched by the United Arab Emirates to help millions of people around the world."

The ceremony was held in Dubai in the presence of Sheikh Hamdam Bin Rashid Al Maktoum, Crown Prince of Dubai. Following the ceremony, Sobha Founder PNC vernon commented: "We are delighted to be one of the contributors to the Mothers' Endowment campaign and the entity responsible for the development of the Endowment University campus building in Dubai. We firmly believe that investing in the Endowment University will yield enormous benefits in the future, both locally and regionally, having a positive impact on development efforts while reinforcing Dubai's status as a global destination and knowledge incubator," he added.

The Dubai Immo team salutes the gesture of PNC Vernon and the Sobha Foundation.

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