Doha: The General Endowment Department at the Ministry of Awqaf and Islamic Affairs has opened two endowment projects in Hazm Al Markhiya, which would be generating over QR4.5m in revenue per year. The projects ‘Al Misnad Residential Villas’ have 24 villas built from endowment made by late philanthropist Ahmad bin Abdullah Al Misnad.
Director of General Endowment Department Dr. Sheikh Khalid bin Mohamad bin Ghanam Al Thani said the new endowment projects are one of the largest in the country. He said the project will serve the community.
Both projects are residential complexes — one comprising 14 villas and the other consisting of 10 villas. They were fully rented out for over QR4.6m a year. The revenues will be spent on the works of ‘Al Bir W Al Taqwa’ (righteousness and piety) according to the condition of the donor.
Ali bin Ahmad bin Abdullah Al Misnad, son of the donor, said his late father endowed one third of his money (property) in his life. He said the General Endowment Department was taking care and investing the money resulting in what "we saw today a fantastic project comprising 24 villas in Hazm Al Markhiya".
Ali lauded the Department for its efforts for developing the endowment to generate revenues to spend as per the condition of his late father.
Last week, the General Endowment Department opened ‘Al Utrujjah’, the largest endowment project worth QR68.8m dedicated for Holy Quran learning centres.
The project, located in Freej Bin Mahmoud, comprises 112 international standard residential apartments and a sport club.
The revenues which will come from the renting out of the apartments will be used in supporting centres of Holy Quran running across the country with thousands of students. This is one of the important projects of the Ministry of Awqaf and Islamic Affairs as it serves the Holy Quran Learning Centres in the country.
The high demand of the Holy Quran centres motivated Endowment Affairs Department to allocate a special endowment (waqf) for these centres, which will also help the Ministry of Awqaf and Islamic Affairs in its expansion plans to receive more students and raise the quality of education with the best modern means available.
