Real estate represents almost 60% of Awqaf (endowments) assets in Qatar and the rest is in the form of shares and capital in joint venture companies such as Aqar Real Estate Development and Investment Company and Al-Jazeera Finance Company, said Al-Fadil Ahmad, an economist at the General Directorate of Endowments (Awqaf). The Ministry of Awqaf and Islamic Affairs launched a four-day regional workshop on “the management and investment of Awqaf money” yesterday with the participation of GCC countries including Saudi Arabia, Kuwait and Oman and 13 other Islamic and Arab countries. The Islamic Development Bank and a number of economic experts were also represented.Abdullah al-Dawsari, general manager of the General Management of Endowments said that 80% of Awqaf investment in Qatar was in the real estate sector. They have around 10 construction or rebuilding projects a year. The main job is to maintain, manage and keep the buildings in running conditions. Awqaf also gets around 60-70 real state endowments a year. The investment is mainly in residential complexes. Addressing the attendants, al-Dawsari said “Islamic Awqaf assets in the world amount to $105bn and real states represent around 70- 80% of it.” He pointed out that studies showed that the yearly outcome of these did not exceed 3.5 % of it, which is considered very weak. He wondered that 39% of the people live below the poverty line in the Muslim world which indicates serious defects in the distribution of wealth and management of development. Therefore, he called for real solutions to be worked out to better invest and develop Awqaf assets. HE Dr. Ghaith bin Mubarak al-Kuwari, Minister of Awqaf and Islamic Affairs, stressed the pivotal role of Awqaf in the wellbeing of society. “For 15 centuries Awqaf has been a supporter of social, economic and cultural development,” he said. He further explained that Awqaf system was an ideal organisation to achieve comprehensive security in the community. It enhances philanthropy and alleviates the sufferings of the needy. He described this workshop as a practical step towards achieving a strategic plan to open new fields of investment and better employ Awqaf in the service of community.He also stressed the importance of qualifying the staff supervising and managing the development of Awqaf and the soliciting the expertise of economists and businessmen. Awqaf usually receives targeted donations or endowments, explained Badre al-Mahmoud, Investment Manager at Awqaf. “Some donors want their donations to be used in building mosques for example, which is a great number and some for certain purposes such as aid for Palestine,” he said. However, the biggest portion is directed to common good and Awqaf is partners with community members to better employ the donations they manage on behalf of the donors. He also said that most of the assets of Qatari Awqaf were invested inside Qatar to the lower level of investment risk in the country.