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Clarification on the property at 11 Beach Road and its contribution to wakaf

Response to parliamentary question on the property at 11 Beach Road and its income since the migration of wakaf assets to the property

Question

Mr Muhamad Faisal Abdul Manap: To ask the Minister for Social and Family Development and Minister-in-charge of Muslim Affairs in light of the migration of Wakaf Haji Pitchay Meerah Hussain to 11 Beach Road (a) what is the land area, gross plot ratio and gross floor area of 11 Beach Road; (b) how does MUIS derive income from 11 Beach Road; and (c) how much income has been derived since the migration.

Response

Mr Masagos Zulkifli, Minister-in-charge of Muslim Affairs & Minister for Social and Family Development:

  1. 11 Beach Road is a 6-storey commercial property with a land area of 714 m² and a total lettable area of 3,202 m². The building was purchased from the collective sale proceeds of 43 wakaf assets.
  2. The income from 11 Beach Road is mainly derived from the rental of commercial spaces. It is distributed to the 43 wakaf based on their shareholding. Since the migration, the building has disbursed a total of $23.79 million to the various shareholders.  
 
Last updated on 06 July 2021