H.H. Sheikh Mohammed reviews AED 500 million Arab Reading Challenge Endowment

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has reviewed plans and implementation stages of the AED 500 million Arab Reading Challenge Endowment project, which will be developed by Sobha Realty in Dubai.

The project aims to generate sustainable funding for the Arab Reading Challenge, with all proceeds supporting programmes that promote reading, preserve the Arabic language and empower young Arabs through education and knowledge.

The mixed-use development will be located in Al Barsha South 3 and will include residential units, offices, retail outlets and community facilities.

Construction is scheduled to begin in the first quarter of 2027, with completion expected within 36 months.

Sheikh Mohammed reviewed the project during the closing ceremony of the 10th Arab Reading Challenge, where he was briefed on its design, features and long-term revenue-generating potential.

Sobha Realty pledged AED 500 million towards the endowment in 2025 under an agreement with the Mohammed bin Rashid Al Maktoum Global Initiatives, with the goal of supporting the world's largest reading competition and expanding its educational and cultural impact.

Mohammed bin Rashid reviews plans and implementation stages of the AED500 million Arab Reading Challenge Endowment, to be developed by Sobha Realty in Dubai. All proceeds from the project will be directed towards supporting the Arab Reading Challenge’s strategic plans to develop… pic.twitter.com/QGjc1fxNrf

— Dubai Media Office (@DXBMediaOffice) October 30, 2026