Dubai-based Sobha Realty, part of PNC Menon’s Sobha group, will construct and develop an AED 400 million university campus building in Dubai over four years, marking one of the largest charity donations in UAE.
The project will be handed over to Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), who will cooperate with an international university to run the endowment varsity.
With a capacity of 2,000 students, the endowment university aims to diversify higher education options in Dubai for domestic and international students, a release from Sobha said. Sobha Realty signed a charitable grant agreement with MBRGI to set up the university as part of the Mothers’ Endowment campaign, launched by Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai.
The Mothers’ Endowment campaign was launched by Al Maktoum by establishing an AED 1 billion endowment fund supporting the education of mothers around the world.
Sobha group has a listed real estate company, Sobha, in the country.