Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia

Vertical living is common in Malaysia as well as other parts of the world. High cost of land and lack of strategic location for housing estates has influenced the developers to opt for vertical development. Stratified properties are divided into two; self-owned unit and common property which are com...

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Main Authors:	Mohamad, Nor Asiah, Sufian, Azlinor
Format:	Conference or Workshop Item
Language:	English
Published:	Universiti Tun Abdul Razak Sdn Bhd in collaboration with International Centre for Waqf Research (ICWR) of International Islamic University Malaysia (IIUM), Malaysia 2017
Subjects:	HD101 Land use K Law (General)
Online Access:	http://irep.iium.edu.my/59753/ http://irep.iium.edu.my/59753/ http://irep.iium.edu.my/59753/1/59753_Looking%20into%20waqf%20%28religious%20endowment%29.pdf

id	iium-59753
recordtype	eprints
spelling	iium-597532017-12-05T08:30:48Z http://irep.iium.edu.my/59753/ Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia Mohamad, Nor Asiah Sufian, Azlinor HD101 Land use K Law (General) Vertical living is common in Malaysia as well as other parts of the world. High cost of land and lack of strategic location for housing estates has influenced the developers to opt for vertical development. Stratified properties are divided into two; self-owned unit and common property which are commonly owned and managed by all owners of the strata scheme. The challenge, most of the times, involves the maintenance of the common areas which requires substantial budget and professionalism, skills in developing social and human relationship and lastly, the continualincrease of cost ofmanagement of the properties which requires visionary and skillful strata managers. Above all, financial standing and professionalism is vital. Using doctrinal analysis of the primary and secondary data, the findings conclude that the concept of Waqfor endowment as catalyst for the third sector economy can play a role as a potential vehicle to raise funds to maintain and manage common properties in strata scheme. While religious reward may motivate the Muslim owners or tenants to contribute to waqf fund, other benefits such as financial security, sustainability, accountability and transparency would invite contribution and build trust from the Muslim and non-Muslim. With adequate education initiatives and effective marketing of waqf products, waqf concept shall provide sustainable source of fund to cater short term and long term maintenance plan for strata scheme. Universiti Tun Abdul Razak Sdn Bhd in collaboration with International Centre for Waqf Research (ICWR) of International Islamic University Malaysia (IIUM), Malaysia 2017 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/59753/1/59753_Looking%20into%20waqf%20%28religious%20endowment%29.pdf Mohamad, Nor Asiah and Sufian, Azlinor (2017) Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia. In: The 2nd, 3rd and 4th Global Waqf Conference 2016, 19th-21st Sept. 2016, United Kingdom. https://www.facebook.com/events/582055615289149/permalink/621982771296433/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HD101 Land use K Law (General)
spellingShingle	HD101 Land use K Law (General) Mohamad, Nor Asiah Sufian, Azlinor Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia
description	Vertical living is common in Malaysia as well as other parts of the world. High cost of land and lack of strategic location for housing estates has influenced the developers to opt for vertical development. Stratified properties are divided into two; self-owned unit and common property which are commonly owned and managed by all owners of the strata scheme. The challenge, most of the times, involves the maintenance of the common areas which requires substantial budget and professionalism, skills in developing social and human relationship and lastly, the continualincrease of cost ofmanagement of the properties which requires visionary and skillful strata managers. Above all, financial standing and professionalism is vital. Using doctrinal analysis of the primary and secondary data, the findings conclude that the concept of Waqfor endowment as catalyst for the third sector economy can play a role as a potential vehicle to raise funds to maintain and manage common properties in strata scheme. While religious reward may motivate the Muslim owners or tenants to contribute to waqf fund, other benefits such as financial security, sustainability, accountability and transparency would invite contribution and build trust from the Muslim and non-Muslim. With adequate education initiatives and effective marketing of waqf products, waqf concept shall provide sustainable source of fund to cater short term and long term maintenance plan for strata scheme.
format	Conference or Workshop Item
author	Mohamad, Nor Asiah Sufian, Azlinor
author_facet	Mohamad, Nor Asiah Sufian, Azlinor
author_sort	Mohamad, Nor Asiah
title	Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia
title_short	Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia
title_full	Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia
title_fullStr	Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia
title_full_unstemmed	Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia
title_sort	looking into waqf (religious endowment) potentials for stratified properties maintenance and management in malaysia
publisher	Universiti Tun Abdul Razak Sdn Bhd in collaboration with International Centre for Waqf Research (ICWR) of International Islamic University Malaysia (IIUM), Malaysia
publishDate	2017
url	http://irep.iium.edu.my/59753/ http://irep.iium.edu.my/59753/ http://irep.iium.edu.my/59753/1/59753_Looking%20into%20waqf%20%28religious%20endowment%29.pdf
first_indexed	2023-09-18T21:24:40Z
last_indexed	2023-09-18T21:24:40Z
_version_	1777412111651045376

Looking into waqf (religious endowment) potentials for stratified properties maintenance and management in Malaysia

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