Awqaf Dubai records landmark family endowment at AED1.6bn

Awqaf Dubai has registered the largest permanent family endowment in the emirate, with the Ahmed and Mahmoud Al Dallal family committing assets valued at AED1.6 billion to a long-term waqf structure, reinforcing Dubai’s drive to expand institutionalised philanthropy alongside private wealth preservation.

The endowment, approved by the Endowment and Minors’ Trust Foundation in Dubai, brings together a diversified portfolio of income-generating real estate and financial assets structured to deliver sustained returns. Officials involved in the registration said the scale and permanence of the arrangement set a new benchmark for family endowments in the emirate, both in valuation and in governance standards applied to the assets.

According to Awqaf Dubai, the endowment has been designed to ensure predictable annual distributions while preserving capital across generations. A portion of the proceeds will be channelled to social and developmental initiatives aligned with approved charitable purposes, while the remainder supports family beneficiaries under conditions defined in the waqf deed. The structure reflects a growing preference among high-net-worth families to formalise intergenerational giving through regulated frameworks rather than ad hoc donations.

Dubai’s endowment ecosystem has expanded steadily over the past decade, supported by regulatory clarity, professional asset management and judicial oversight. The Endowment and Minors’ Trust Foundation, which supervises such arrangements, has positioned itself as a central platform for registering, managing and safeguarding endowed assets, including family, charitable and hybrid waqf structures. Its mandate includes protecting beneficiaries’ rights, ensuring Sharia compliance and maintaining transparency in asset deployment.

The Al Dallal family endowment underscores a broader trend among business families in the Gulf to integrate philanthropy with succession planning. By ring-fencing assets under an endowment, families can protect core holdings from fragmentation while embedding social objectives into long-term wealth strategies. Legal advisers note that the permanence of waqf arrangements offers stability during generational transitions, particularly for families with diversified real estate portfolios.

Officials familiar with the registration said the endowment includes prime properties in Dubai with established rental income, alongside financial investments structured to balance yield and risk. The assets will be managed under professional oversight, with periodic reporting to the foundation. This approach reflects a shift away from informal management of endowed property towards institutional standards comparable to those used by large trusts and foundations globally.

Awqaf Dubai has been encouraging families and corporations to register endowments as part of wider efforts to scale the sector. Initiatives launched in recent years aim to modernise waqf administration, digitise records and attract private capital into sustainable social financing. The foundation has highlighted endowments as a mechanism to support education, healthcare, social welfare and community development without relying solely on public funding.

The size of the Al Dallal endowment also carries signalling value for the wider market. Wealth managers and private bankers in Dubai say large family endowments can catalyse interest among peers, normalising the use of waqf as a mainstream wealth planning tool rather than a niche religious practice. This is particularly relevant as families navigate complex portfolios spanning property, operating businesses and financial investments.

From a policy perspective, the registration aligns with Dubai’s broader strategy to position itself as a hub for structured philanthropy and impact-oriented capital. Authorities have emphasised the role of endowments in supporting long-term social objectives while reinforcing financial discipline and governance. The foundation’s oversight framework, including court supervision where required, is intended to build confidence among donors and beneficiaries alike.

Legal experts note that family endowments of this scale require careful drafting to balance flexibility with permanence. Provisions typically address asset substitution, reinvestment of proceeds and dispute resolution, ensuring the waqf remains viable despite market cycles. The Al Dallal endowment is understood to include mechanisms allowing assets to be optimised over time while preserving the original intent of the founders.