BUTTERWORTH: The government wants more developers to work with state Islamic religious councils to commercially develop endowment land to benefit Muslims especially low income earners to own homes.
Minister in the Prime Minister’s Department Datuk Seri Dr Mujahid Yusof Rawa (pix) said endowment land should be seen as a socio-economic development to lighten the cost of development by the government.
‘’We need only boost our awareness over the obligations on endowments to assist the government handle development costs. We are already saving on costs by having the land but we need to have a partner who sees it as a duty to promote the development of endowment land, and also the capability of the banks who are prepared to see it has a value which can eventually return to them.
“We, at the federal government level, see the future of endowments as important tools,’’ he told reporters after launching the Wakaf Seetee Aishah 2 property development project, here today.
He said the property development project on endowment land at Wakaf Setee Aishan in Penang by UDA Holdings Berhad could become the best example to other states.
UDA Holdings Berhad, through its subsidiary company, UDA Land North Sdn Bhd, with the co-operation of the Penang State Islamic Religious Council (MAINPP), would develop the endowment land at Wakaf Seetee Aishah, in Bandar Seberang Jaya, here encompassing houses and commercial property, which was expected to be completed in 2023.
Commenting further, Mujahid said that the government would draw up a law to ensure those giving away land for endowment purposes, and also endowed land, were protected. — Bernama