Reports

AED500 Million Dubai Project to Fund Arab Reading Challenge

Published

23 hours ago

October 31, 2026

Shorya

Rabbani plans to launch a AED 500 million endowment project that will enable the Arab Reading Challenge to continue funding its operations over the long term, and which has been reviewed by Sheikh Mohammed bin Rashid Al Maktoum.

The project is a collaboration between Sobha Realty and the Mohammed bin Rashid Al Maktoum Global Initiatives, and will focus on improving literacy programmes, hatching plans to expand the initiative to the wider world, and championing Arabic language after the 10th edition of the competition.

Mohammed bin Rashid reviews plans and implementation stages of the AED500 million Arab Reading Challenge Endowment, to be developed by Sobha Realty in Dubai. All proceeds from the project will be directed towards supporting the Arab Reading Challenge’s strategic plans to develop… pic.twitter.com/QGjc1fxNrf
— Dubai Media Office (@DXBMediaOffice) October 30, 2026

Arab Reading Endowment Project to Secure Long Term Funding

In an agreement with MBRGI, Sobha Realty has committed AED 500 M to the development. It will immediately contribute to the return of the financial return to the Arab Reading Challenge’s programmes, which will contribute to the broadness and increase of Arabic reading activities across the globe, as well as the protection of the Arabic language and empowering youth by engaging in education. The endowment aims to secure endowment funding of the future and enable future generations of readers.

Arab Reading Endowment Project Planned for Dubai

The mixed use buildings are estimated to be about 750,000 sqft and will be built in Al Barsha South 3. It is designed with two towers of housing, commercial offices, retail space and community facilities.

The project seeks to achieve both economic sustainability and environmental obligations achieved by implementing a green building system with a rating of Silver in Dubai’s Al Sa’fat Green Building system.

Arab Reading Endowment Project Sets Construction Timeline

The start of construction is expected to be in the first quarter of 2027, and completion is envisioned for 36 months. The timeline will inform the content and how the development will move towards returns being generated to aid the reading initiative.

Arab Reading Endowment Project Targets 11 Percent Returns

The return on investment from the development is estimated to be about 11% based on initial projections by municipal and real estate planners. These funds are anticipated to offer sustained long-term financial support for the Arab Reading Challenge, thus enabling it to continue its educational programmes and international activity.