Key Takeaways
- • Sheikh Mohammed bin Rashid Al Maktoum reviewed plans for a AED500 million Arab Reading Challenge Endowment to be developed by Sobha Realty in Al Barsha South 3, Dubai, with all project proceeds directed to the Arab Reading Challenge.
- • The mixed-use development spans 750,000 square feet with two main towers, residential units, office space, retail outlets and community services, and is expected to yield an 11% return on investment from its second year, according to Dubai Municipality Director General Marwan bin Ghalita.
- • Construction is scheduled to begin in Q1 2027 with completion within 36 months; the project targets a Silver rating under Dubai's Al Sa'fat green building system.
- • Sobha Realty pledged the AED500 million in October 2025 under an agreement with the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI).
- • The 10th Arab Reading Challenge drew 40,286,428 students from 60 countries, and total prize money since 2015 has reached AED110 million.
Summary
Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, reviewed the plans and implementation stages of the AED500 million Arab Reading Challenge Endowment, to be developed by Sobha Realty in Dubai. The review, held in the presence of Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, took place during the closing ceremony of the 10th Arab Reading Challenge at the Dubai World Trade Centre. Sobha Realty Chairman Ravi Menon briefed the ruler on the project's architectural design, functional layout and integration with Dubai's urban identity, as well as its long-term revenue potential.
The project is located in Al Barsha South 3 and will be an integrated development comprising residential units, office spaces, retail outlets and community services. According to Dubai Municipality Director General Marwan bin Ghalita, it spans 750,000 square feet, comprises two main towers, service and recreational facilities, and retail outlets, and qualifies for a Silver rating under Al Sa'fat, Dubai's green building rating system. Bin Ghalita said the project is designed to maintain stable occupancy and generate sustainable revenues, with an expected return on investment of 11% starting in its second year. Construction is scheduled to begin in the first quarter of 2027, with completion expected within 36 months.
All proceeds will support the Arab Reading Challenge's programmes in knowledge and cultural development, Arabic language preservation, and empowering young Arabs in knowledge and modern sciences. Under an agreement signed with MBRGI, Sobha Realty pledged the AED500 million in October 2025. Mohammad Al Gergawi, Secretary General of MBRGI, said the endowment would strengthen the Challenge's position and expand its global reach and programmes.
The 10th edition recorded the highest participation in the initiative's history, with 40,286,428 students from 60 countries, representing 48% of school students across the Arab world, along with 138,426 schools and 161,507 supervisors. Participation has grown 1,019% from the 3.6 million students in the 2015 inaugural edition. The Champion title carries AED500,000, and the Best School title AED1 million. Total prize money since the launch, including the current edition, has reached AED110 million, with AED11 million allocated annually to winners.
The project is located in Al Barsha South 3 and will be an integrated development comprising residential units, office spaces, retail outlets and community services. According to Dubai Municipality Director General Marwan bin Ghalita, it spans 750,000 square feet, comprises two main towers, service and recreational facilities, and retail outlets, and qualifies for a Silver rating under Al Sa'fat, Dubai's green building rating system. Bin Ghalita said the project is designed to maintain stable occupancy and generate sustainable revenues, with an expected return on investment of 11% starting in its second year. Construction is scheduled to begin in the first quarter of 2027, with completion expected within 36 months.
All proceeds will support the Arab Reading Challenge's programmes in knowledge and cultural development, Arabic language preservation, and empowering young Arabs in knowledge and modern sciences. Under an agreement signed with MBRGI, Sobha Realty pledged the AED500 million in October 2025. Mohammad Al Gergawi, Secretary General of MBRGI, said the endowment would strengthen the Challenge's position and expand its global reach and programmes.
The 10th edition recorded the highest participation in the initiative's history, with 40,286,428 students from 60 countries, representing 48% of school students across the Arab world, along with 138,426 schools and 161,507 supervisors. Participation has grown 1,019% from the 3.6 million students in the 2015 inaugural edition. The Champion title carries AED500,000, and the Best School title AED1 million. Total prize money since the launch, including the current edition, has reached AED110 million, with AED11 million allocated annually to winners.
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