Commercial Housing Waqf as a Sustainable Development Strategy: A Literature Review
Abstract
The integration of commercial housing Waqf into sustainable development frameworks serves as a strategic means to merge Islamic philanthropic principles with modern urban development goals. Moreover, Waqf investment funds have emerged as viable mechanisms for sustainable financing, promoting both community welfare and economic growth in line with national sustainability visions. This paper aims to review the commercial housing waqf as a sustainable development strategy. This study employed a literature review approach to examine the role of Commercial Housing Waqf (CHW) as a sustainable development strategy. This review revealed commercial housing waqf as a sustainable development strategy; (a) economic sustainability: waqf-based housing generates self-sustaining revenue; (b) social inclusion: waqf housing reduces urban housing inequality; (c) governance and management: transparent waqf administration improves long-term viability; and (d) environmental sustainability: waqf housing encourages green construction and climate resilience. In conclusion, the findings demonstrate that commercial housing Waqf offers a viable and holistic approach to achieving sustainable development by integrating Islamic social finance principles with contemporary urban needs. CHW models foster economic self-sufficiency, social equity, transparent governance, and environmental resilience—making them a strategic solution to global housing challenges.
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References
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