Dubai:His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, reviewed the plans and implementation stages of the AED500 million Arab Reading Challenge Endowment, which will be developed by Sobha Realty in Dubai. The review took place during the closing ceremony of the 10th Arab Reading Challenge at the Dubai World Trade Centre.
According to Wam, all proceeds from the project will support the Arab Reading Challenge's strategic plans. These plans aim to develop knowledge and cultural programmes, preserve the Arabic language, and empower young Arabs to pursue knowledge and modern sciences. The endowment, located in Al Barsha South 3, Dubai, is scheduled to begin construction in the first quarter of 2027, with completion expected within 36 months.
Ravi Menon, Chairman of Sobha Realty, briefed His Highness on the project's architectural design, functional layout, and integration with Dubai's urban identity. The development is an integrated project comprising residential units, office spaces, retail outlets, and community services, designed to generate sustainable revenues.
Mohammad Al Gergawi, Secretary General of the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), highlighted the significance of Sobha Realty's contribution to strengthening the initiative's position across the Arab world. He noted the endowment's role in shaping young people's awareness and supporting their academic and professional aspirations.
Eng. Marwan bin Ghalita, Director General of Dubai Municipality, oversees the project and emphasized its sustainability standards. The project qualifies for a Silver Rating under Dubai's Al Sa'fat green building rating system and is designed to maintain stable occupancy rates with an expected return on investment of 11% starting from its second year.
In October 2025, Sobha Realty pledged AED500 million towards supporting the Arab Reading Challenge, aiming to make reading a daily habit among students and reinforce Arabic as a language of knowledge. The 10th edition of the Challenge recorded the highest participation, with over 40 million students from 60 countries involved.
The Arab Reading Challenge, launched in 2015 by H.H. Sheikh Mohammed bin Rashid Al Maktoum, aims to encourage reading among students and strengthen their language skills. The initiative has awarded AED110 million in prize money since its inception, with AED11 million allocated annually.