UDA develops waqf land in Penang with Amaanee Residences project

UDA Holdings Berhad is actively developing potential waqf land across Malaysia, with its latest project, Amaanee Residences, located in Wakaf Seetee Aisah near Seberang Jaya, Penang. This development builds on the success of previous projects on the same land, Taman Wakaf Seetee Aisah and Pusat Komersial Wakaf Seetee Aisah.

According to Ir. Shahrul Arizan Mohamad Adnan, COO of UDA Land (North) Sdn. Bhd., UDA's phased strategic role has significantly enhanced the commercial value and potential of the waqf land. The land's value has reportedly increased from approximately RM34 million to RM42 million, with annual returns soaring from around RM200 to RM3.36 million. This substantial increase in revenue directly supports the original intentions of the waqf, enabling broader assistance to those in need.

Launched in July 2023, Amaanee Residences is slated for completion in 2027. The project features a 40-story apartment building offering 410 units, designed with a concept of tranquility, simplicity, and high accessibility. Units range from 950 to 1,100 square feet, with three bedrooms and two bathrooms, priced affordably starting at RM299,991. The development is targeted towards first-time homebuyers and professionals, providing comprehensive facilities such as a swimming pool, gymnasium, multi-purpose hall, kindergarten, and a mortuary management room, all within a guarded and secured environment.

The development boasts a strategic location with easy access to major highways like the Butterworth-Kulim Expressway (BKE) and North-South Expressway, as well as Penang Bridge and Penang Sentral transport hub. It is also conveniently located near essential public amenities and educational institutions, including the Seberang Perai Urban Transformation Centre (UTC), Seberang Jaya Hospital, Politeknik Seberang Perai, and Universiti Teknologi MARA (UiTM) Permatang Pauh.