The Saud bin Saqr Foundation for Youth Project Development is dedicated to supporting innovators with promising projects in all sectors, asserted Youssef Ismail, Head of the Foundation’s Supreme Committee, as the organisation broke ground on the central kitchen for ‘Arabian Nights’ – a hospitality-sector project developed by a member of the Foundation.
The kitchen will be set up on land allocated by the Foundation to the project owner, and spanning an area of 40,000 square feet in Ras Al Khaimah’s Seeh Al Bana region. With a price tag of AED12 million, the project is expected to produce 20,000 meals a day, to be used for one of six purposes, catering for companies and corporations, events, home banquets, retail stores, upscale celebrations and ceremonies, and conferences.
The central kitchen will serve the northern regions and east coast of the UAE; it is located just one hour away from Fujairah and Dubai, 45 minutes from Sharjah, Ajman, and Umm Al-Quwain, and 20 minutes from the centre of the Emirate of Ras Al Khaimah.
“We work to encourage UAE citizens to invest in SMEs, which helps promote a culture of entrepreneurship and self-employment, and amplifies efforts to diversify the economy, achieve sustainable development in the emirate, promote innovation, and help companies grow and contribute to the UAE’s development,” Ismail explained.
“Since its launch in 2008, the Saud bin Saqr Foundation for Youth Project Development has been dedicated to empowering young Emirati men and women to move confidently forward in their projects, providing them constant support,” he added. “This, in turn, has allowed these projects to grow from mere promising ideas to on-the-ground businesses, boosting comprehensive and sustainable economic development in the emirate.”
“The SME sector has a pivotal role to play in diversifying Ras Al Khaimah’s sources of income, creating new jobs in the local market, and boosting the emirate’s profits,” Ismail concluded.
The Saud bin Saqr Foundation for Youth Project Development was established to develop and empower small and medium enterprises (SMEs), in addition to periodically evaluating and assessing them. It coordinates with federal and local government entities and the private sector to support creative projects and start-ups in the UAE and abroad.