Dubai launches new ‘Well of Water’ endowment project to support city’s global water aid efforts

The Foundation has launched its second endowment assignment, which is committed to supporting the ‘Well of Hope‘ campaign launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The campaign aims to supply clean water to underprivileged communities across the world.

The inauguration ceremony for the new endowment was observed by many dignitaries, including the Chairman of the Board of Trustees of the UAE Water Foundation, the Chairman of the Dubai Endowment Foundation, and the Secretary-General of the Foundation.

The project comprises four residential villas constructed on 19,880 square feet of land in the Al Rashidiya area of Dubai, with a total area of 14,595 square feet, and a value of AED9 million. The expected annual returns for the project account for approximately 10% of its total value.

The current initiative is part of the ‘Well of Water’ endowment projects launched by Dubai Endowment in 2019. The yearly earnings from this endowment will be committed to executing endurable assignments that supply water to communities lacking drinkable water references in growing countries affected by natural disasters.

His Excellency Saeed Mohammed Al Tayer, Chairman of the Board of Trustees of the UAE Water Foundation (Suqia UAE), praised the efforts of the Endowment and Minors’ Trust Foundation in Dubai. He appreciated their commitment to generating endurable payments that contribute to delivering clean water to residents suffering from water scarcity and pollution worldwide.

Well Of Hope

“The UAE’s humanitarian efforts, led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, have been instrumental in elevating the country’s global standing as a beacon of compassion and extending support to those in need worldwide. The “Well of Water” initiative is a testament to His Highness’s humanitarian vision, delivering outstanding provincial and international assignments that bring relief to underprivileged communities. Following in the footsteps of the late Sheikh Zayed bin Sultan Al Nahyan, the UAE continues to introduce innovative initiatives and programs to aid disadvantaged societies facing difficulties and encourage endurable development.” Stated Al Tayer.

“Under the Mohammed bin Rashid Al Maktoum Global Initiatives, Suqia UAE is dedicated to addressing the global water crisis by providing valuable solutions for water lack and ensuring clean drinking water for communities facing water shortages and pollution. Launched in March 2015, Suqia UAE has made a significant impact, having helped over 13.6 million people in 37 countries worldwide through the implementation of over 1,000 sustainable water projects,” added Al Tayer.

In line with His Highness Sheikh Mohammed bin Rashid Al Maktoum’s principles of generosity and empathy, His Excellency Essa Al Ghurair emphasized the Foundation’s unwavering dedication to backing the ‘Well of Hope’ initiative as long as the water scarcity issue persists worldwide. “With this new endowment project, the Foundation’s support towards the ‘Well of Hope’ initiative will be extended, further enhancing the recognition of the UAE’s pioneering humanitarian and charitable projects.”

According to His Excellency Ali Al Mutawa, Dubai Endowment is committed to making notable contributions to the UAE’s endeavors to launch exceptional and sustainable charitable initiatives that help disadvantaged societies. “Our commitment to innovation and excellence in the sector of charity and humanitarian assistance remains unwavering as we strive to enhance the quality of life for underprivileged individuals.”

According to Al Mutawa, since the launch of the ‘Well of Hope’ initiative in 2019, numerous countries dealing with water scarcity have benefitted from the project. The initiative has facilitated the construction of wells and the supply of clean water to communities struggling with water shortage.

Furthermore, the Dubai Endowment Foundation has been one of the leading organizations to support the ‘Well of Hope‘ initiative through its endowment projects since 2019. The income generated from these endowments is utilized to provide potable water to around 600,000 individuals annually, particularly in areas that lack sources of clean and safe water.

Also Read: Etihad Museum – A Fascinating Exploration of the UAE’s Past