Sobha Realty's AED 500 Million Arab Reading Challenge Endowment Plans Reviewed in Dubai

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has reviewed the architectural plans for the AED 500 million Arab Reading Challenge Endowment in Dubai. The project, developed by Sobha Realty, is located in Al Barsha South 3 and will see all its proceeds directed towards supporting the Arab Reading Challenge's strategic goals to promote knowledge, preserve the Arabic language, and empower young Arabs.

The review took place during the closing ceremony of the 10th Arab Reading Challenge at the Dubai World Trade Centre. Ravi Menon, Chairman of Sobha Realty, briefed Sheikh Mohammed on the project's design, functional layout, and its integration with Dubai's urban identity, highlighting its potential to generate sustainable revenues for the reading initiative.

Project Details and Timeline

Construction of the endowment project is slated to begin in the first quarter of 2027, with an estimated completion time of 36 months. The development will be an integrated complex featuring:

• Residential units
• Office spaces
• Retail outlets
• Community services

Spanning an area of 750,000 square feet, the project emphasizes architectural quality, economic efficiency, and operational sustainability. It is designed to meet Dubai’s green building standards, qualifying for a Silver Rating under the Al Sa’fat system.

His Excellency Eng. Marwan bin Ghalita, Director General of Dubai Municipality, noted the project's design aims for stable occupancy rates and sustainable revenue generation, with an expected return on investment of 11% starting from its second year.

Impact and Vision

His Excellency Mohammad Al Gergawi, Secretary General of the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), highlighted that Sobha Realty's endowment represents a significant contribution to advancing the Arab Reading Challenge's educational and cultural objectives across the Arab world. The endowment will enhance the Challenge's capacity to develop youth awareness, skills, and support academic and professional aspirations.

Sobha Realty initially pledged the AED 500 million in October 2025, committing to the endowment to make reading and learning daily habits among students and reinforce Arabic as a language of knowledge and cultural identity. The Arab Reading Challenge, since its launch in 2015, has achieved significant participation, with the 10th edition attracting over 40 million students from 60 countries.