Emaar offers extra Dh62M to nurture Emirati youth
dubai — Emaar Properties on Sunday announced that it would make an additional contribution of Dh62 million to Sandooq Al Watan, bringing its total monetary commitment for the national initiative to Dh146 million.
Sandooq Al Watan has been instituted to achieve the vision of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to prepare the nation for the post-oil era by nurturing national talents, promoting social enterprises and building a sustainable knowledge-based economy. Emaar had earlier contributed Dh84 million to the philanthropic fund.
Speaking at a press conference, Mohamed Alabbar, chairman of Emaar Properties, also revealed that Emaar would contribute two per cent of its profits to Sandooq Al Watan annually. He described Sandooq Al Watan as a powerful initiative that sets the foundations for a future generation of Emirati entrepreneurs.
Looking back, Alabbar noted that the private sector had benefited tremendously from governmental support and that it is time for companies to give back to the nation. “As we prepare for the post-oil era, it is important to invest in our country’s most powerful resource — our talented youth. We must create the infrastructure to nurture their talents and support them to become successful entrepreneurs, who in turn contribute to our nation’s sustained progress and prosperity.”
“Companies operate in societies and societies need to be looked after,” he added. “Creating a culture where you nurture the talents of the youth is the greatest achievement that you can work towards. We see our support to the fund as a part of our corporate social responsibility to our nation, our leadership and the community.”
Lieutenant General Dhahi Khalfan Tamim, chairman of Sandooq Al Watan, congratulated Emaar Properties for its efforts to provide a brighter future for future generations. “Emaar has set a proud example of corporate social responsibility by investing in creating a better future for our country and providing the highest levels of prosperity for our community.”
Mohamed Taj Aldeen Al Qadhi, director-general of Sandooq Al Watan, spoke about how well it was resonating with companies in the private sector. He said the initiative had plans to raise over Dh1 billion by 2020 and that it had already achieved half of the target. He said if every company donated one to two per cent of its annual profits, the initiative would easily reach Dh30 billion.
Sandooq Al Watan recently announced the launch of its Future Initiative that would support the building of a knowledge economy by adopting innovative ideas and supporting them to become competitive enterprises. To be implemented in phases, the initiative aims to create a new generation of UAE national companies that will support the building of the economy of the future.