Dubai to establish world's first collective Endowment Park
Framework Mechanism of collective Endowment Park
Dubai - WAM
The city of Dubai has announced that it is working on establishing the first collective-endowment park in the world, which will encourage members of the community to donate palm trees as a form of agricultural endowment.
The Endowment Park project, which is being established by Dubai Municipality and the Mohammed bin Rashid Global Centre for Endowment Consultancy, is an example of how Dubai, which is renowned for interweaving innovation into its economic, commercial and cultural goals, is now blending it into charity.
The new park combines the business model of collective outsourcing with the concept of innovative endowment adopted by the Mohammed bin Rashid Centre.
Located next to Mushrif Park and covering an area of 15 hectares, the park will also include a charity date-packing factory which will allocate its entire production towards benefiting needy members of the UAE community.
The park's concept is derived from a 125-year old custom originating from the Hatta region in UAE, which had the social custom of endowing palms by traditionally donating proceeds to charity.
Source: WAM
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