The Construction of Commercial Building on Waqf Land Based on Indonesia Law

Abstract

Management system of Waqf Utilization is one of the important aspects in developing new paradigm of waqf in Indonesia, including the construction and management of commercial building on the waqf land. This article examines the use and management of wakaf land for commercial building development. The method used is normative juridical, with comparative approach to commercial building development on wakaf land in Singapore and Malaysia. There is a need for partnership synergy especially with the business world in the development of waqf land for commercial building development. In relation to the provisions of the Waqf Law, the management of waqf assets must be in accordance with the principles of sharia. This also applies in Financing and Management of commercial building on waqf land. The benefits of managing the waqf land for commercial building development will be channeled to mauquf’alaih (waqf recipients) in accordance with the pledge of waqf.