Ajman Ruler approves plans for new ICO endowment facility

The project will be one of the ICO’s key endowment residential and commercial facilities and will serve large segments of needy people both inside and outside the country…reports Asian Lite News

H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, in the presence of H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, approved the final plans for the new “Charity Giving Tower” of the International Charity Organisation (ICO), costing AED110 million.

Ajman Ruler approves plans for new ICO endowment facility

Sheikh Humaid was briefed by Sheikh Mohammed bin Abdullah bin Sultan Al Nuaimi, Chairman of the Board of Trustees of the ICO, about the project’s objectives, a timeline for implementation and ways of benefitting from the facility’s proceeds, to support local and international humanitarian projects.

Sheikh Mohammed said the project will be one of the ICO’s key endowment residential and commercial facilities and will serve large segments of needy people both inside and outside the country. The proceeds from the project will be allocated to several humanitarian and charity projects, including those related to educational support. It will be used to finance students who are unable to cover their education fees, healthcare support in poor countries, and offer medical treatment to vulnerable patients, most notably those with chronic diseases such as cancer and dialysis, in addition to the construction of mosques, water projects and wells, and supporting productive families, orphans, divorced women and widows.

The ICO will continue its humanitarian efforts, on the directives of Sheikh Humaid, with the monitoring of Sheikh Ammar, he added, noting it aims, through its strategic vision, to achieve resource sustainability and reinforce its leadership in the field of humanitarian and charity action.

The ICO’s endowment projects aim to promote the culture of giving and values of tolerance and benefit the widest possible segments of people, he further added.

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The new endowment facility, located in Al Rumaila 2 in Ajman and covering an area of 55,000 square metres, comprises a ground floor, four floors, parking lots and 14 additional floors. It also includes 21 commercial stores, a health club and 236 residential units.

Several Sheikhs and senior officials attended the meeting. (WAM)