UDA expands Penang wakaf project with 410-unit Amaanee Residences

PETALING JAYA (July 13): UDA Holdings Bhd is advancing the redevelopment of wakaf (Islamic endowment) land with the launch of Amaanee Residences @ Wakaf Seetee Aisah in Seberang Jaya, Penang, a 410‑unit apartment project developed in collaboration with the Penang State Islamic Religious Council (MAINPP).

UDA said in a statement last week (July 8) that the phased redevelopment of the Wakaf Seetee Aisah site has increased the wakaf land’s value from around RM34 million to approximately RM42 million, while annual income has risen from about RM200 to around RM3.36 million.

Amaanee Residences comprises a 40‑storey apartment building with 410 residential units, each offering three bedrooms and two bathrooms. Unit sizes are 950 sq ft and 1,100 sq ft, with prices starting from RM299,991 and completion targeted for 2027.

UDA said residents would have access to facilities such as a swimming pool, gymnasium, playground, nursery, covered parking, multipurpose hall and a burial management room, within what it described as a gated-and-guarded environment.

The project site in Seberang Jaya is positioned near key transport links including the Butterworth–Kulim Expressway (BKE), the North–South Expressway, the Penang Bridge, the Butterworth Outer Ring Road and the Penang Sentral transportation hub.

Nearby public amenities and institutions include the Seberang Perai Urban Transformation Centre (UTC), Seberang Jaya Hospital, several primary and secondary schools, Politeknik Seberang Perai and Universiti Teknologi MARA (UiTM) Permatang Pauh.

According to UDA, Amaanee Residences is a continuation of earlier phases at Wakaf Seetee Aisah, including the Wakaf Seetee Aisah Commercial Centre and Taman Wakaf Seetee Aisah.

The group describes the project as part of a multi‑segment redevelopment strategy — spanning commercial centres, wakaf houses and medium‑cost housing — intended to strengthen the potential of wakaf assets and deliver more comprehensive socioeconomic benefits to the ummah.

UDA, established in 1971, is a government‑linked property developer under the Ministry of Entrepreneur Development and Cooperatives. The group has developed residential, commercial and mixed‑use projects across Malaysia.

Wakaf property development has been receiving increasing attention in Malaysia as state religious councils and developers explore ways to optimise the use of endowment land while preserving its charitable purpose.

UDA’s latest project illustrates one approach, combining residential development with income generation from endowment assets.

The release did not disclose the detailed tenure structure of the wakaf land or the mechanism for sharing development proceeds and ongoing returns between UDA and MAINPP. These details would provide further context on the structure of the redevelopment model and the respective roles of the parties involved.

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