Awqaf and Minors Affairs Foundation, or AMAF, has launched an initiative called the Ejar wa Ajr – Rent and Get Rewarded. The initiative aims at providing sustainable endowment residential options in accordance with its real estate portfolio through the simplified condition-fulfillment process.
Let’s have an in-depth look at the Ejar wa Ajr initiative.
When was the Ejar wa Ajr Initiative Launched?
The Rent and Get Rewarded initiative, or Ejar wa Ajr, was launched on the 28th of September 2019.
What is the Main Motivation Behind Ejar wa Ajr?
The inspiration behind Ejar wa Ajr was brought on by the Letter of the New Season issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.
It aims at meeting the following objectives:
- Appeal to a wider segment of the society and give them access to user-friendly facilities
- Allow individuals and organizations to support endowment projects, which empower minorities and underprivileged sections of the society
- Boost the socio-economic development of developing or underdeveloped areas
- Make use of real estate projects to boost the economy
Who Will Benefit from the Ejar wa Ajr?
The beneficiaries of the scheme will include the following individuals:
- Elderly Emirati citizens
- People of Determination
- The UAE citizens
- Expat employees of local and federal government entities
Dubai’s SME industry will also benefit in the commercial sector of the initiative.
How Does it Work?
The Ejar wa Ajr attempts at making residential and commercial properties readily available for a broader range of beneficiaries. The eligible individuals or organizations can apply for vacant units available in AMAF’s residential and commercial property portfolio.
Residential properties will be available at a discount of 10%, while commercial properties will be available at a discount of 20% on the rental value.
Deyaar Property Management will be responsible for allocating the properties available with AMAF, and will also help manage the rent generated. Further, the rental contract will also be signed directly at the Deyaar Offices.
Until When is Ejar wa Ajr Valid?
The Ejar wa Ajr initiative is valid until the end of 2019.