Sobha Realty’s AED500 Million Endowment to Sustain the Arab Reading Challenge’s Global Mission

His Highness Sheikh Mohammed bin Rashid Al Maktoum has reviewed plans for a transformative development that will channel proceeds directly into advancing literacy and cultural initiatives across the Arab world.

The closing ceremony of the 10th Arab Reading Challenge held at the Dubai World Trade Centre became the setting for a moment of strategic significance. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, alongside Lieutenant General H.H. Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, reviewed the architectural and implementation plans for an endowment that will reshape how the Arab Reading Challenge sustains its expanding vision.

Sobha Realty’s AED500 million Arab Reading Challenge Endowment represents more than property development; it is a structured financial instrument designed to generate sustainable revenues in perpetuity. Every pound of profit from this mixed-use development will feed directly into the Challenge’s strategic plans to develop knowledge and cultural programmes, preserve the Arabic language and empower young Arabs to pursue intellectual and scientific excellence.

The project, to be located in Al Barsha South 3, comprises two main towers housing residential units, office spaces and retail outlets alongside community services. Construction begins in the first quarter of 2027, with completion anticipated within 36 months. The development spans 750,000 square feet and meets the highest sustainability standards, qualifying for a Silver Rating under Dubai’s Al Sa’fat green building rating system. The architectural design integrates seamlessly with Dubai’s urban identity while maintaining the economic efficiency and operational stability necessary for long-term revenue generation. The project is expected to achieve an 11% return on investment from its second year onwards.

Ravi Menon, Chairman of Sobha Realty, outlined to His Highness the project’s functional layout and long-term potential during the briefing. Mohammad Al Gergawi, Secretary General of the Mohammed bin Rashid Al Maktoum Global Initiatives, characterised the endowment as a significant contribution to strengthening the initiative’s position and advancing its educational and cultural reach across the Arab world and beyond. The endowment will deepen the Challenge’s capacity to shape young people’s awareness, develop their skills and support academic and professional aspirations while contributing to community growth.

The timing of this announcement coincides with the 10th Arab Reading Challenge recording unprecedented participation. As we reported in our coverage of the Challenge’s remarkable evolution, the initiative attracted 40,286,428 students from 60 countries, representing 48 per cent of all school students across the Arab world. This represents participation growth of 1,019 per cent since the inaugural edition in 2015, when 3.6 million students took part. The 10th edition brought together 138,426 schools and 161,507 supervisors, underscoring the Challenge’s establishment as the world’s largest reading initiative and competition.

Eng. Marwan bin Ghalita, Director General of Dubai Municipality, which oversees the project, emphasised its role in maintaining stable occupancy rates whilst generating sustainable revenues. The structure ensures the endowment can fulfil its mission of introducing innovative programmes, expanding global reach and strengthening students’ engagement with the Arabic language.

The pledge builds upon Sobha Realty’s commitment signed with MBRGI in October 2025. The contribution aligns with the broader mission to make reading and learning daily habits among students whilst reinforcing Arabic as a language of knowledge and a fundamental element of cultural identity, driving positive change across the Arab cultural landscape and empowering future generations.

What it means for Abu Dhabi

This endowment exemplifies how the emirates embed cultural and educational missions within economic development. The model of sustainable revenue generation supporting knowledge initiatives demonstrates Dubai and Abu Dhabi’s shared commitment to strengthening Arabic language and learning across the region. The success of the Arab Reading Challenge, with its unprecedented reach across the Arab world, reflects the leadership’s vision of intellectual advancement as central to regional prosperity and cultural resilience.

The project’s integration into Dubai’s urban fabric, combined with its adherence to green building standards, underscores how major initiatives in the emirates balance immediate community benefit with long-term environmental responsibility. This approach has become characteristic of UAE development, where infrastructure, commerce and cultural advancement are designed to work in concert, creating templates that influence thinking throughout the region.

Source: WAM

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