Minister of Endowments and Islamic Affairs Inaugurates Abu Hamour Endowment

 HE Minister of Endowments and Islamic Affairs Ghanem bin Shaheen Al Ghanim inaugurated on Tuesday the Abu Hamour Endowment during a ceremony organized by the General Directorate of Endowments, held at the project's site.

On this occasion, Director-General of the General Directorate of Endowments, Eng. Hassan bin Abdullah Al Marzouqi, highlighted that the project is the outcome of an integrated vision adopted by the Directorate. He emphasized the significant role of endowment initiatives in supporting the national economy and achieving sustainability through investment projects that benefit various sectors.

He noted that the Ministry is celebrating the launch of a promising initiative in a strategic location - one that embodies the values of Islamic endowments and showcases the Directorate’s commitment to launching exemplary projects that generate income and support charitable expenditures across multiple fields.

Al Marzouqi stressed that the Abu Hamour Endowment was implemented in accordance with the highest engineering and technical standards, adhering closely to the approved timeline. Remarkably, the project was completed in just five months and ten days, ahead of schedule - a testament to the professionalism of the Directorate and the competence of its administrative and engineering teams in managing major endowment ventures.

He further explained that the expected revenue from this project will contribute to the Endowment Fund for Righteousness and Piety, particularly in supporting charitable work, thereby enhancing the sustainable social impact of Waqf in Qatar.

The Abu Hamour Endowment stands as a pioneering model for the development and investment of endowment properties, reinforcing its contribution to the economic and urban development of the State of Qatar. It also reflects the Directorate’s vision of advancing endowment funds through sustainable investment projects that generate income and serve the community.

Strategically located on Central Market Street in the Abu Hamour area, the project spans 12,000 square meters and features a modern design with advanced infrastructure. Facilities include a basement with essential services, a ground floor with retail outlets, 187 parking spaces, two showrooms, and 21 small administrative offices.

The Abu Hamour Waqf is a valuable addition to Doha’s real estate landscape, seamlessly integrating commercial and administrative functions in a contemporary environment that meets market demands. The project exemplifies the General Directorate of Endowments’ strategy to develop economically and socially viable endowment projects and reinforces the essential role of endowment in sustainable development.

 

(QNA)