Mohammed bin Rashid reviews Dh500 million endowment to fund Arab Reading Challenge
Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has reviewed the plans and implementation stages for a Dh500 million endowment project being developed by Sobha Realty in Dubai, with all returns earmarked for the Arab Reading Challenge. The project will support the initiative’s strategic plans to expand its knowledge and…
Dubai's Vice President and Prime Minister, Sheikh Mohammed bin Rashid Al Maktoum, recently reviewed the plans for a Dh500 million endowment project by Sobha Realty, set to fund the Arab Reading Challenge. The funds will support the project's goal of expanding knowledge, preserving the Arabic language, and providing young Arab generations with modern knowledge and science.
The 500 million project will span residential, office, commercial, and service spaces, blending design quality, economic efficiency, and sustainability. The multi-phase development is slated to commence in the first quarter of 2027 and be completed within 36 months. The Arab Reading Challenge, initiated by Sheikh Mohammed in 2015, encourages schoolchildren to read and summarize 50 books annually, fostering a lifelong love for reading and Arabic language proficiency.
The challenge recently crowned its 10th edition, with 40.3 million students from 60 countries participating, marking a 24% increase over the previous year.
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