The year 2023 has been positive for the Endowments and Minors’ Trust Foundation (Awqaf Dubai), with its assets generating a revenue growth of more than a third.

Revenues from properties portfolio have reached AED200 million ($54.5 million), up by 35% over the same period last year, the Dubai Media Office reported on social media on Thursday.

“[The growth] reflects the foundation’s success in its strategy based on ensuring sustainable growth of endowment investments,” the media office said.

The foundation undertakes humanitarian programmes, initiatives and investment projects.

Endowment assets of the foundation surpassed AED8.8 billion by the end of 2022, according to an earlier report.

(Writing by Cleofe Maceda; editing by Seban Scaria)