| Summary: | Waqf is an Islamic concept of trust when an owner donates a land or property for a specific or general welfare of Muslim community. Basically it possesses huge potential to contribute in economy and social benefits for the Muslims society. However, Waqf land plays a little role in Malaysia socioeconomic development which limited to the provisions of mosque, cemetery and religious school. Waqf land is still subjected to several problems, among others is abandonment and unutilized of land due to physical factors, size of the land, legal aspects, inefficient databases, lack of financial support and issues in the management and administration of the State Islamic Religious Councils (SIRCs) as a sole trustee. The main intend of this paper is to create awareness of Waqf assets development and disseminating info about methods of financing Waqf development to built environment or construction industry. Someissues on the legal aspects of Waqf will be highlighted where shariah law embedded does not response well to the contemporary financial nstitutions. However, there is existing financial mechanism in developing Waqf that being neglected by the trustee that need to be revived to suits issues of Waqf for curbing the current financial condition. Construction industry should also be concerned on the Waqf development since it is part of development matters. If managing for the future means to ensure sustainable development, then Waqf development embraced exactly the definition of sustainability, where land as prominent resources being donated for public now and forever. Hence the development must be implemented wisely and persistently. © 2010 Taylor and Francis Group, London, UK.
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