The project will feature 42 apartments to be rented out, with AMAF managing the building and collecting the rental income.
The recurring annual estimated rental income of AED 2 million will go towards Al Noor Centre and will be allocated to undertaking its year-round training programmes offered for people with special needs and to establishing itself as a regional innovation centre in special needs training.
Beit Al Noor Endowment is envisaged to offer residents the complete lifestyle experience. The mid-rise development will feature a rooftop landscaped deck, adult and children’s swimming pools, health club, two levels of basement parking and several retail stores and F&B outlets on the ground level.
Mohamed Alabbar, Chairman of Emaar Properties, said: “Beit Al Noor Endowment sets a new model in supporting the community through a long-term and sustainable initiative led by public private partnerships. It reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, and His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, to building an inclusive and cohesive community that cares for the welfare of all sections of the community. The Endowment will benefit Al Noor Centre in supporting achieving their mission to provide valuable training for individuals with special needs.”
Ahmad Al Matrooshi, Chairman of Emaar Foundation and Managing Director of Emaar Properties, added: “Beit Al Noor Endowment is the flagship project of Emaar Foundation that has been launched to undertake CSR activities worldwide. With the project, we are underlining our commitment to support the philanthropic vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and the ‘My community… a city for everyone’ initiative announced by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. Our CSR initiative also complements the Dubai Plan 2021, and sets a new benchmark for future philanthropic initiatives, by promoting the spirit of cooperation and partnership among multiple stakeholders.”
Emaar Foundation will undertake all aspects of project development, while AMAF will work closely on assuring its seamless completion including support on tendering and the financial management of the Endowment.
Beit Al Noor Endowment will be elegantly designed with layered massing to create verticality and presence. Clad in natural stone, the building façade combines floor to ceiling glazed areas and punched windows to for variety and interest.