Sandooq Al Watan reports more than half a billion dirhams in contributions

ABU DHABI — Sandooq Al Watan, a national initiative launched by prominent Emirati businesspeople to support sustainable development and prepare for the post-oil era, has announced that the total amount of contributions received since its inception has already exceeded half a billion dirhams.

Sandoq Al Watan launched the “Early Fund” initiative to honour early shareholders and supporters and to encourage businesspeople and individuals to follow these examples of giving and investing in the prosperous future of the country.

In a show of gratitude, Sandooq Al Watan also revealed the list of top contributors, which include Emaar Properties, Aldar Properties, Sultan Bin Rashed Al-Dhaheri, International Golden Group, and the Armed Forces Officers Club and Hotel.

With more than AED548 million raised, the fund has already exceeded half of its target of AED 1 billion for 2020. The sum was split into AED370 million in contributions and AED178.5 million in pledges for future donations. The total number of donors exceeded 45 individuals and institutions, where 29 individuals’ contributions made up 62 percent of the total, while the remaining 38 percent was donated by 18 organisations.

The top five individual donors comprised Ahmed Juma Al Zaabi, Deputy Minister of Presidential Affairs and Chairman of the UAE President’s Initiatives Committee, who donated AED20 million, followed by Sultan Bin Rashed Al-Dhaheri with AED12 million, Khalaf Ahmad Al Habtoor and Naji Hasan Al Harthi with AED10 million each, and Abdul Rahman Saeed Ghanim Al Ali with AED6 million.

As for corporations, Emaar Properties topped the list with AED84 million, which represents 2 percent of its annual revenue, followed by Aldar Properties with AED48 million, Union National Bank with AED30 million, the Armed Forces Officers Club and Hotel with AED25 million, as well as the Abu Dhabi Co-Operative Society and the International Golden Group with AED20 million each.

Donating corporations spanned five different sectors, namely banks and investment companies Waha Capital with AED10 million, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and Emirates Islamic Bank with AED5 million each, in addition to the First Abu Dhabi Bank with AED4.99 million.

Construction and real estate companies also included the Nael and Bin Harmal Group with AED5 million, and the Arabian Constructions Company with AED1 million.

Etisalat donated AED10 million, representing the telecommunications sector, while the Abu Dhabi National Insurance Company and Al Ain Insurance Company represented the insurance sector, donating AED4 million and AED3 Million respectively. The list also included companies from the hospitality sector, such as Abu Dhabi National Hotels and the National Corporation for Tourism and Hotels, who donated AED3 million and AED1 million, respectively.

The fund’s Board of Directors expressed appreciation for the honourable gesture of the prominent businesspeople and enterprises, describing them as role models of social responsibility and service. The Board called on all Emirati businesspeople and leading organisations in the UAE to follow suit and support Sandooq Al Watan to empower national talents and build a sustainable economy for the coming generations, especially during the #Year of Giving 2017.

Source: Emirates News Agency