KWAP boosts senior well-being with Penang pilot project

New partnership: Anwar witnessing the exchange of documents during the launch of the ROD pilot project.

KUALA LUMPUR: Retirement Fund Inc (KWAP) is addressing the needs of Malaysia’s ageing population through the development of a Retirement-Oriented Develop­ment (ROD) pilot project in Kepala Batas, Penang.

The project is 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.

The pilot project will be developed on approximately 4.04ha of Baitulmal land owned by MAINPP, marking a new partnership model between institutional investors and state councils to support sustainable community development.

KWEST will serve as the development manager, overseeing project planning and implementation on behalf of KWAP.

Designed with affordability and flexibility in mind, the independent living concept offers lease options and curated programmes with MAINPP that enrich retirees’ lives through continuous learning and social engagement.

While open to the public, the initiative gives priority to pensioners as part of KWAP’s ongoing effort to build an inclusive and thriving silver economy.

“This initiative demonstrates KWAP’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, supporting Malaysia’s ageing population,” said KWAP’s chief executive officer, Datuk Nik Amlizan Mohamed.

The pilot project forms part of KWAP’s RM300mil allocation announced in Budget 2026 to enable similar developments across Malaysia.

KWAP will continue to explore the potential of the model to be replicated in other states, aligning its long-term investment stewardship with efforts to enhance retirement well-being and deliver meaningful value to society under the “Purpose Beyond Returns” philosophy.