New ‘Well of Water’ initiative launched in Dubai ...United Arab Emirates

Dubai’s Endowments and Minors’ Trust Foundation (Dubai Endowment) has launched a ‘Well of Water’ endowment project, which aims to contribute to Dubai’s global water aid efforts. The project includes four residential villas on a 19,880sqft plot in the Al Rashidiya area. Valued at US $2.45mn, the four G+1 buildings cover a total area of 14,595sqft. Dubai Endowment explained that expected annual returns account for about 10% of the project value. It noted that the annual proceeds from the endowment will be dedicated to implementing sustainable projects to provide water to many communities that lack potable water sources in developing countries suffering from natural disasters. The initiative is

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