KEPALA BATAS: The Retirement Fund Inc (KWAP) is taking a proactive step to address the needs of Malaysia’s ageing population with the launch of a retirement-oriented development pilot project in Kepala Batas, in collaboration with the Penang Islamic Religious Council (MAINPP) and KWEST Sdn Bhd, KWAP’s property development arm.
Announced by Prime Minister Datuk Seri Anwar Ibrahim, the initiative under Budget 2026 reflects KWAP’s commitment to advancing national well-being in line with the principles of the MADANI Economy, through investments that deliver both financial and social value.
In a statement today, KWAP said the pilot project will be developed on about 4.05 hectares of Baitulmal land owned by MAINPP, marking a new partnership model between institutional investors and state religious councils to support sustainable community development.
KWEST will act as development manager, overseeing project planning and implementation on behalf of KWAP.
Designed with affordability and flexibility in mind, the independent living concept will offer lease options and curated programmes with MAINPP to enrich retirees’ lives through continuous learning and social engagement.
KWAP said the project will be open to the public, with priority given to pensioners, and forms part of its ongoing efforts to build an inclusive and thriving silver economy.
KWAP chief executive officer Datuk Nik Amlizan Mohamed said the initiative demonstrates the fund’s commitment to advancing the national agenda under the MADANI Economy by delivering investments that create both financial and social value.
"Through this pilot project, we are translating policy into tangible impact to support Malaysia’s ageing population,” she said.
The pilot project is part of KWAP’s RM300 million allocation under Budget 2026, aimed at enabling similar developments nationwide.- Bernama
