KUALA LUMPUR: UDA Holdings Bhd, a top developer of waqf properties, has unveiled Amaanee Residences, its most recent offering, on 1.18 hectares of Wakaf Seetee Aisah land in Seberang Jaya, Penang.
The 422 residential units in the 40-storey leasehold apartment building come in two sizes, 950 and 1,100 square feet, with prices starting at RM300,000. The total gross development value (GDV) for the project is RM162 million.
Amaanee Residences @ Wakaf Seetee Aisah, next to Taman Wakaf Seetee Aisah, is a strategic partnership between the Penang State Islamic Religious Council (MAINPP) and UDA Land (North) Sdn Bhd, according to UDA chairman Tan Sri Mohd Annuar Zaini.
"We express our gratitude to MAINPP for their trust in giving UDA the opportunity to lead the development of MAINPP's waqf land since the development of the Wakaf Seetee Aisah Commercial Centre, which became the first of its kind in the country involving waqf land development," he said.
He was speaking at the launch of Amaanee Residences, which took place during the recent UDA Ria Property Carnival.
UDA president and chief executive officer, Datuk Mohd Salem Kailany, and MAINPP chairman, Datuk Ahmad Zakiyuddin Abdul Rahman, who is also Deputy Chief Minister I, officiated the ceremony.
Mohd Salem said that Armanee Residences is ideal for first-time homebuyers, especially newlyweds and small families.
He said the apartments are situated near hospitals, schools, universities, hotels, and shopping malls, which will enhance the development's value when it is completed by October 2025.