Developers open purse strings
abu dhabi — Real estate developers in the capital have raised over Dh300 million for building mosques, public parks and sports facilities in Abu Dhabi as part of the ‘Year of Giving’ initiative.
At a ceremony held on the second day of Cityscape Abu Dhabi on Wednesday, the Abu Dhabi Urban Planning Council (UPC) signed a service level agreement with top developers that officially launches its ‘CSR Year of Giving Initiative’.
Under the agreement, the UPC will work with private sector companies to establish new community amenities such as mosques, public parks, walkways, playgrounds and sports facilities throughout Abu Dhabi.
UPC officials said they have received contributions of Dh323.2 million from nine developers just two months after they introduced the initiative of giving back to the community.
A dedicated team will manage all the contributions and decide the location of future projects as well as costs. Under the agreement, the companies will target areas of Abu Dhabi that currently lack community facilities, as well as launch fund-raising events.
Implementation of the projects will begin after a technical committee appointed by the UPC gives a report on what should be top-priority projects.
Developers have also given ideas and plans to the UPC on how to implement community projects.
Falah Al Ahbabi, director-general of the UPC, said: “We are proud to see the private sector actively involved in this initiative, and supporting us to work together towards building new sustainable communities that meet the expectations of our society and raise their living standards.
Mohammed Al Khader, executive director of urban development at UPC, said: “Giving back to the community is a very good thing and this initiative shows solidarity between private companies and the UPC.”
Al Khader explained that 60 to 70 per cent of the cash would be used for building mosques and public parks in Abu Dhabi, Al Ain and Al Dhafra while the rest of the funds would be allocated to develop other community amenities.
Mohamed Khalifa Al Mubarak, CEO of Aldar Properties, said: “As part of our contribution to the ‘CSR Year of Giving Initiative’, Aldar will build seven mosques worth of Dh130 million across the emirate of Abu Dhabi.”
Sufian Hasan Al Marzooqi, CEO of Tourism Development and Investment Company, said: “The ‘Year of Giving’ initiative inspired us to partner with Feykum Al Khair, an initiative which highlights the government and private sectors’ efforts to promote the spirit of giving. This partnership fits with our culture of social responsibility as well as the current emphasis on supporting economic growth through the development of sustainable communities.”
Mohamed Abdalla Al Zaabi, CEO of Miral Asset Management, said: “We are committed to continue supporting our local communities in line with the ‘Year of Giving’ initiative. This involves joining efforts with other developers and the UPC to deliver on that promise and contribute to the progress and development of our people.”
Khalifa Yousif Khouri, vice-chairman of Al Qudra Holding, said: “We have a social responsibility to contribute to the development of our nation. In Al Qudra, we want to lead by example to instill the value of generosity among our peers in the hope that other individuals and companies follow suit.”
— ismail@khaleejtimes.com