Landmark $136 Million Arabic Reading Challenge Endowment Established

Sobha Realty has established a 500 million dirham endowment to support the Arab Reading Challenge, the world's largest Arabic reading competition. The announcement came during the program's ninth annual awards ceremony in Dubai, attended by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister.

The endowment will be created in Dubai, with all proceeds going directly to fund the Arab Reading Challenge's educational and cultural programs. This marks a significant boost for the initiative, which aims to make Arabic reading a daily habit among students across the Arab world.

Mohammed Abdullah Al Gergawi, Secretary General of Mohammed bin Rashid Al Maktoum Global Initiatives, signed the agreement with P.N.C. Menon, founder and chairman of Sobha Realty. The partnership reflects the UAE's broader strategy to strengthen Arabic language education and cultural identity among young Arabs.

Since its launch in 2015, the Arab Reading Challenge has attracted over 163 million student participants across nine editions. The program has seen remarkable growth - from 3.6 million participants in its first year to more than 32 million in the latest edition, representing a 795% increase.

The competition spans 50 countries and involves more than 132,000 schools with over 161,000 supervisors. Students compete by reading and summarizing Arabic books, with winners receiving substantial prizes. The overall champion gets 500,000 dirhams, while the top school receives one million dirhams.

The program gained official recognition in December 2024 when the Arab League called on education ministries across Arab nations to adopt the Arab Reading Challenge as part of their educational curricula. This endorsement positions the initiative as more than just a competition - it's becoming an integral part of Arabic education policy.

Total prize money distributed since 2015 has reached 99 million dirhams, with annual awards totaling 11 million dirhams. The competition includes special categories for students with disabilities and diaspora communities, ensuring broad participation across different groups.

For Sobha Realty, this contribution extends their existing partnership with Mohammed bin Rashid Al Maktoum Global Initiatives. Menon emphasized the company's commitment to supporting educational initiatives that help Arab students access knowledge and develop their capabilities.

The endowment structure ensures long-term sustainability for the program. Rather than a one-time donation, the real estate investment will generate ongoing revenue to fund future editions of the competition and expand its reach across the Arab world.

This funding model reflects Dubai's approach to sustainable philanthropy, where private sector contributions create lasting impact through carefully structured financial instruments. The partnership demonstrates how major corporations can support cultural and educational initiatives while ensuring their contributions continue generating value over time.