Dar Al Ber completes 35% of the 'Waqf Building' project in Ajman

09/21/2021

Abdul Qader Al Rais, Vice Chairman of the Board of Directors of Dar Al Ber Society, confirmed that the completion rate of the 'Waqf Building' project in Al Jarf area in Ajman reached 35%, while work began on the construction of the project last year at a total cost of 48 million dirhams and the work is expected to be completed and officially launched next year in 2022.
 
Al Rais explained that the new charitable project is a residential and commercial building, consisting of 14 floors, and comprising of 104 units, including 100 apartments, 4 shops, and the apartments are distributed between 50 apartments consisting of two rooms and a hall, 30 apartments with a room and a hall, and 20 apartments with 3 rooms and a hall.

For his part, Dr. Muhammad Suhail Al Muhairi, CEO and Managing Director of Dar Al Ber Society, said that Dar Al Ber Society’s endowment portfolio currently contains 30 diversified properties, which are two buildings, 18 homes , 6 apartments, and 4 commercial warehouses, while the total revenue received via the endowments of Dar Al Ber during the past five years, amounted to 14,990,025.50 million dirhams.

The CEO of Dar Al Ber confirmed that the Society has a clear and well-established strategy in the field of charitable endowments, as it is an important and sustainable source of support and funding for the charitable sector and for humanitarian work in general, and ensuring the continuity of providing charitable aid and services and supporting the sustainability of charitable work.
 
He indicated that the Society since its establishment has paid great attention to charity endowments, and it has been constantly working on developing its endowments portfolio, in light of legal regulations, in order to enhance the financial revenues of these endowments and the Society in a manner that is in the interest of charitable work in the UAE and abroad, and which also constitutes support for the Society's humanitarian projects and contributes in helping the largest possible number of needy and low-income people, inside the Emirates and the poor and afflicted in large parts of the world.