Sandooq Al Watan Reports More Than Half a Billion Dirhams in Contributions

Business

Sandooq Al Watan Reports More Than Half a Billion Dirhams in Contributions

Sandooq Al Watan, a nationwide initiative released by popular Emirati entrepreneurs to support lasting advancement and get ready for the post-oil age, announced that the complete quantity of contributions got since its beginning has currently surpassed half a billion dirhams.

Sandoq Al Watan introduced likewise the "Early Fund" "initiative to honour very early investors and advocates and to motivate business owners and people to comply with these instances of providing and investing in the flourishing future of the nation. This effort will include the names of all fund supporters prior to completion of the " year of giving, whether individuals or institutions. Lots of advantages and opportunities of their very own.

In a show of gratitude, Sandooq Al Watan revealed the checklist of top contributors, that include Emaar Properties, Aldar Properties, Sultan Bin Rashed Al-Dhaheri, International Golden Group, and the Army Officers Club and Hotel.

With more than AED548 million increased, the fund has actually currently exceeded half (55%) of its target for 2020 - AED1 billion. The amount was divided right into AED370 million in contributions and AED178.5 million in pledges for future donations. The overall number of benefactors surpassed 45 people and establishments: 29 people, whose contributions comprised 62% of the overall, while the continuing to be 38% was given away by 18 organisations.

The leading five individual donors comprised His Excellency Ahmed Juma Al Zaabi, Deputy Minister of Presidential Affairs and Chairman of the UAE President's Initiatives Board, that contributed

AED20 million, followed by H.E. Sultan Bin Rashed Al-Dhaheri with AED12 million; Khalaf Ahmad Al Habtoor and Naji Hasan Al Harthi with AED10 million each; and Abdul Rahman Saeed Ghanim Al Ali with AED6 million.

When it comes to firms, Emaar Properties topped the listing with AED 84 million (2% of its yearly revenue), complied with by Aldar Properties with AED48 million, Union National Bank with AED30 million, the Armed Forces Administration Club and Hotel with AED25 million, along with the Abu Dhabi Co-Operative Society and the International Golden Group with AED20 million each. Donating firms extended 5 various markets, namely: banks and investment companies consisting of - besides Union National Bank - Waha Resources with AED10 million; Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), and Emirates Islamic Bank with AED5 million each; along with the First Abu Dhabi Bank (FAB) with AED4.99 million.

Construction and real estate, for their part, consisted of - besides Emaar and Aldar Properties - the Nael & Bin Harmal Group with AED5 million, and the Arabian Constructions Company with AED1 million.

Etisalat gave away AED10 million, representing the telecom sector, while the Abu Dhabi National Insurance provider represented the insurance market, giving away AED4 million and Alain insurer giving away 3 Million. The listing additionally consisted of business from the hospitality sector, such as Abu Dhabi National Hotels and the National Company for Tourism & Hotels, that contributed AED3 million and AED1 million, specifically.

The fund's Board of Directors revealed admiration for the honourable motion of the
famous business owners and enterprises, explaining them as role models of social obligation and service. The Board gotten in touch with all Emirati business owners and leading organisations in the UAE to do the same and support Sandooq Al Watan to equip national talents and build a lasting economic situation for the coming generations - specifically during the Year of Offering 2017.