The General Authority for Awqaf announced that expenditure on development portfolios exceeded SAR 2.5 billion by the end of 2024, directing funding toward waqf-based development projects across the Kingdom. This investment has supported the execution of more than 250 initiatives in collaboration with over 200 partners, spanning government, private, and nonprofit sectors.
Context and Background
The General Authority for Awqaf, a key Saudi institution responsible for managing and developing waqf (endowment) assets, has prioritized aligning its efforts with high-impact programs that support the objectives of Saudi Vision 2030. The authority has implemented a targeted approach to fulfilling endowers’ conditions by organizing projects into specific development portfolios. This structured methodology ensures that waqf resources are deployed efficiently to address societal needs while achieving sustainable economic and social development.
Key Details of the Development Portfolios
The authority manages seven distinct portfolios: the Pilgrim Experience Portfolio, Mosque Portfolio, Environment and Water Portfolio, Housing Portfolio, Education Portfolio, Health Portfolio, and Vulnerable Populations Portfolio. Each portfolio is designed to meet specific societal requirements, such as improving services for pilgrims, enhancing mosque infrastructure, promoting environmental sustainability, providing affordable housing, expanding educational opportunities, strengthening healthcare access, and supporting vulnerable groups. The SAR 2.5 billion expenditure underscores the scale of these commitments and the authority’s operational capacity to deliver on its mandates.
Implications and Impact
The substantial investment highlights Saudi Arabia’s dedication to leveraging religious endowments as a tool for comprehensive development. By working with over 200 partners, including government agencies, private companies, and charitable organizations, the authority is fostering a collaborative ecosystem that amplifies the impact of waqf funds. This approach not only addresses immediate societal needs but also contributes to long-term economic resilience. The projects are expected to create job opportunities, improve quality of life, and strengthen social cohesion, particularly in underserved regions.
Vision 2030 Alignment
This achievement reflects the Kingdom’s strategic commitment to Vision 2030, which emphasizes the role of the nonprofit sector in driving sustainable development. The General Authority for Awqaf’s work directly supports several Vision 2030 goals, including enhancing the quality of life, promoting social responsibility, and diversifying the economy. As the authority continues to expand its development portfolios, it is poised to further integrate waqf assets into the national development framework, ensuring that endowments serve as a lasting source of social and economic benefit for generations to come.
20 Questions
Q1. What is the General Authority for Awqaf?
A1. The General Authority for Awqaf is a Saudi government institution tasked with managing and developing waqf (endowment) assets to support societal and economic goals.
Q2. How much did the authority spend on development portfolios by end of 2024?
A2. The expenditure on development portfolios exceeded SAR 2.5 billion by the end of 2024.
Q3. How many initiatives were executed with this funding?
A3. More than 250 initiatives were executed as part of the development portfolio program.
Q4. How many partners collaborated with the authority?
A4. The authority collaborated with over 200 partners from government, private, and nonprofit sectors.
Q5. What is the primary goal of these projects?
A5. The projects aim to fulfill endowers’ stipulations, address societal needs, and achieve sustainable economic and social development.
Q6. How does the authority align with Saudi Vision 2030?
A6. The authority aligns its efforts with high-impact programs that support Vision 2030 objectives, such as economic diversification and social development.
Q7. What are the development portfolios managed by the authority?
A7. The portfolios include Pilgrim Experience, Mosque, Environment and Water, Housing, Education, Health, and Vulnerable Populations.
Q8. What is the Pilgrim Experience Portfolio focused on?
A8. It focuses on improving services and infrastructure for pilgrims visiting Saudi Arabia.
Q9. What does the Mosque Portfolio address?
A9. It addresses the maintenance, construction, and enhancement of mosque facilities.
Q10. What is the goal of the Environment and Water Portfolio?
A10. It aims to promote environmental sustainability and improve water resource management.
Q11. What does the Housing Portfolio target?
A11. It targets providing affordable housing solutions to meet societal needs.
Q12. How does the Education Portfolio contribute?
A12. It expands educational opportunities and supports learning infrastructure.
Q13. What is the focus of the Health Portfolio?
A13. It strengthens healthcare access and improves medical facilities.
Q14. Who benefits from the Vulnerable Populations Portfolio?
A14. It supports vulnerable groups, including low-income families and individuals with special needs.
Q15. How does the authority ensure endowers’ conditions are met?
A15. It organizes projects into specific portfolios managed directly to fulfill endowers’ conditions.
Q16. Why is this expenditure significant for Saudi Arabia?
A16. It demonstrates the Kingdom’s commitment to using waqf assets for large-scale societal and economic development.
Q17. How many partners worked with the authority?
A17. Over 200 partners collaborated, including government, private, and nonprofit entities.
Q18. What sectors do the partners represent?
A18. Partners represent government agencies, private companies, and nonprofit organizations.
Q19. How does this initiative support economic diversification?
A19. It creates jobs, improves infrastructure, and fosters a collaborative ecosystem outside the oil sector.
Q20. What is the long-term vision for these portfolios?
A20. The portfolios aim to sustainably manage waqf assets to ensure ongoing social and economic benefits for future generations.
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