Endowment Department launches projects generating QR4.5m in revenue yearly
Doha: The General Endowment Department of the Ministry of Awqaf and Islamic Affairs has inaugurated two endowment projects in Hazm Al Markhiya, which would generate approximately QR4.5m in revenue every year.
The Al Misnad Residential Villas are a collection of 24 villas created with a donation from late philanthropist Ahmad bin Abdullah Al Misnad. Dr Sheikh Khalid bin Mohamad bin Ghanam Al Thani, Director of the General Endowment Department, stated the new endowment projects are among the country’s largest.
According to him, the project will benefit the community. Both of the projects are residential complexes.
One has 14 villas and the other has 10 villas. They were entirely rented for nearly QR4.6 million per year.
Revenues will be used to support the work of ‘Al Bir W Al Taqwa,’ according to the donor’s wishes. The General Endowment Department unveiled ‘Al Utrujjah,’ the largest endowment project dedicated to Holy Quran learning centres, worth QR68.8 million, last week.
The Freej Bin Mahmoud project has 112 world-class residential flats as well as a sports club. The rental income from the apartments will be utilised to help the thousands of students studying the Holy Quran in centres all around the country.
One of the Ministry of Awqaf and Islamic Affairs’ most important initiatives, it services the country’s Holy Quran Learning Centers. Endowment Affairs Department has allocated a specific endowment (waqf) for these Holy Quran institutes, which will assist the Ministry of Awqaf and Islamic Affairs to expand its plans to accommodate more students and increase the quality of education using the best modern methods accessible to it.
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