Awqaf and Minors Affairs Foundation (AMAF) has launched a Ejar wa Ajr (Rent and Get Rewarded) initiative to provide sustainable endowment residential options in its real estate portfolio with simplified conditions.
Valid until 2019 end, the initiative offers elderly Emirati citizens, people of determination, as well as employees of local and federal government entities a 10 per cent discount on the rental value of vacant units within AMAF’s property portfolio.
In addition, members of Dubai SME can benefit from a 20 percent discount on the rental value of AMAF’s vacant commercial units.
The rental income from these properties that are managed by Deyaar Property Management will be allocated to the development of AMAF’s endowment projects. The rental contract will be signed directly at the Deyaar offices.
His Excellency Ali Al Mutawa, Secretary General of AMAF, said: “The new initiative expands the group of beneficiaries within our residential and commercial property portfolio. We are confident the Rent and Reward scheme will witness a high uptake from our stakeholders as it not only provides them with access to user-friendly facilities.”
He added: “This initiative was inspired by the Letter of the New Season from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.”