Abu Dhabi - Mubasher: The Endowments and Minors’ Funds Authority (Awqaf Abu Dhabi) has signed a memorandum of understanding (MoU) with Lulu Retail Holdings to develop a portfolio of commercial projects valued at AED 100 million on endowment land.
The proceeds from these developments will support long-term care and improve the quality of life for orphans in the UAE, according to a press release.
The MoU enables Awqaf Abu Dhabi to allocate endowed land for development, while Lulu Retail will oversee project development and operations.
It is part of the ‘Mother of the Nation Endowment for Orphans’ initiative launched under the patronage of Sheikh Mohamed bin Zayed Al Nahyan.
Returns generated from the commercial projects will be directed to support the initiative’s long-term objectives while helping sustain and expand Awqaf Abu Dhabi’s broader social and charitable programs.
Fahd Abdulqader Al Qassim, Director General of Awqaf Abu Dhabi, stated: “By pairing endowment assets with professional investment and operational expertise, we can convert endowed land into reliable, long-term funding for social initiatives.”
“This partnership exemplifies a modern, governance-led endowment model that preserves assets, delivers consistent returns and maximises social value across generations,” he added.
Yusuff Ali M. A., Chairman of Lulu Retail, said: “The private sector has an important role to play in supporting national priorities through responsible, impact-driven investment.”
During 2025, Lulu Retail generated net profits worth $204.53 million, higher than $249.19 million in 2024.
