JOHOR BARU: The Retirement Fund Inc (KWAP) has engaged several departments to explore and identify potential land to build housing for retirees, says Prime Minister Datuk Seri Anwar Ibrahim.
He said the initiative, led by KWAP, was announced during the tabling of Budget 2025 and aims to build independent retirement homes for those with low income.
"I am pleased to share the latest updates on the development of the Wakaf Madani initiative, which is led by KWAP with a RM300mil allocation.
"I was informed that KWAP has engaged with the state Islamic religious councils, the Wakaf, Zakat and Haj Department (Jawfar), and the Malaysian Wakaf Foundation to explore and identify potential land for housing development.
"Through strategic collaboration with stakeholders, I am confident that this project can continue to support the social and economic security of the elderly while optimising the use of existing wakaf land," he said.
The Prime Minister's speech was read by Finance Minister II Datuk Seri Amir Hamzah Azizan during the officiating ceremony of the MyPesara Carnival 2024 here on Saturday (Nov 30).
He added that the initiative aligned with the Gear-up program to elevate the standard of living and the government's Madani aspirations.
During the tabling of Budget 2025, Anwar said KWAP would provide RM300mil to enhance the development of wakaf land for building independent retirement homes for low-income retirees.
Gear-up is a program spearheaded by the Finance Ministry to synergise efforts across government-linked investment companies to catalyse growth in key economic sectors.
