Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has announced a new university is to be built in the emirate.
The project is part of the Mothers' Endowment Initiative launched by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. It has also been backed by a Dh400 million ($108.9 million) donation from Sobha Realty.
“We signed an agreement today to establish a new university in Dubai, backed by an Dh400 million donation from Sobha Realty,” Sheikh Hamdan wrote on X.
“We thank PNC Menon, the group’s founder, for supporting this initiative.”
Mohammad Al Gergawi, Minister of Cabinet Affairs, said the university will meet the highest international standards in education.
"The charitable grant agreement signed with Sobha Realty is another significant step towards achieving the goals of the Mothers’ Endowment campaign," he said.
"It will enable thousands of students from the UAE and the region to enroll and finish their higher education within an exemplary educational environment."
The Mothers' Endowment Initiative was launched this month by the Mohammed bin Rashid Al Maktoum Global Initiatives.
It aims to support the educational needs of millions of people around the world from underprivileged backgrounds by providing educational materials, launching social programmes, and building schools and equipping them with supplies.
“Knowledge is hope. It is the gate to a better life as it builds up capable humans and advances countries,” Sheikh Mohammed wrote on X.
“Our role in the UAE is to help ensure people everywhere have education, hope and life. We have to contribute to creating a better future around the world.”
The campaign also aims to highlight the role of mothers by allowing people in the UAE to make donations during the holy month in their mothers' names.
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Five personal finance podcasts from The National
To help you get started, tune into these Pocketful of Dirham episodes
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Balance is essential to happiness, health and wealth
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What is a portfolio stress test?
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What are NFTs and why are auction houses interested?
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Should you buy or rent a home in the UAE?
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
UAE rugby in numbers
5 - Year sponsorship deal between Hesco and Jebel Ali Dragons
700 - Dubai Hurricanes had more than 700 playing members last season between their mini and youth, men's and women's teams
Dh600,000 - Dubai Exiles' budget for pitch and court hire next season, for their rugby, netball and cricket teams
Dh1.8m - Dubai Hurricanes' overall budget for next season
Dh2.8m - Dubai Exiles’ overall budget for next season
Crazy Rich Asians
Director: Jon M Chu
Starring: Constance Wu, Henry Golding, Michelle Yeon, Gemma Chan
Four stars
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
A cheaper choice
Vanuatu: $130,000
Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.
Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.
Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.
Benefits: No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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