Spring 2018

5 KAH News Khalaf Ahmad Al Habtoor inaugurated the first endowment residential and commercial project in Al Bada’a, Dubai launched in collaboration with Awqaf and Minors Affairs Foundation on 21 January 2018. Back in December 2016, AMAF and Khalaf Ahmad Al Habtoor signed an endowment investment contract Khalaf Ahmad Al Habtoor inaugurates residential and commercial endowment in Al Bada’a, Dubai The ribbon cutting ceremony took place on 21 January 2018 to launch the project that seeks to enhance the living standards of the underprivileged and assist them in meeting their basic needs. The private-public partnership is a milestone in establishing a true model of cooperation and social solidarity and aims to empower local society, create job opportunities, and enhance overall social and economic welfare of the community. At a total cost of AED 8 million, the new project is expected to generate AED 1.5 million annually. The building consists of a ground floor and three upper floors with a total floor area of 25,309 sq ft and a land area of 5,433 sq ft. The commercial section spans 1,086 square feet, while the residential section comprises 21 one-bedroom apartments. Khalaf Ahmad Al Habtoor inaugurates the first endowment residential and commercial project in Al Bada’a, Dubai in collaboration with the Awqaf and Minors Affairs Foundation (AMAF) on the occasion of the Year of Zayed.