Build Operate Transfer Development Model of Waqf Land for Providing Affordable Houses

As the largest Muslim country in the world, Indonesia, waqf land is calculated at approximately 4.2 billion square meters and cash waqf has a value of at least180 trillion rupiahs per year. The huge potential of waqf has pushed the government to make it as one of the supporting elements of the national economy. The purpose of this paper is to contribute ideas to the government and other stakeholders such as the Indonesian Waqf Board (BWI) and the nazhirs to see the potential of waqf land in providing affordable housing for communities around the waqf land and utilizing waqf land as sources of land provision. The research method used was normative juridical by approaching the legislation governing waqf land, housing, and civil law, especially contract law. Comparative studies were also used in order to sharpen the analysis in order to develop existing models through the Build Operate Transfer (BOT) approach. The results showed that with the Build operate transfer system, the use of waqf land involving nazhir components, BWI, and investors supported by professional institutions such as notaries/PPAT, lawyers, accountants, bankers, and appraisals will open more opportunities for utilization to make positive contributions, both for the waqf land itself, nazhir and the benefit of the people. This needs to be supported by increasing the professionalism of BWI for the development of BWI organizations, which is carried out by developing the waqf legal system through regulations at the Presidential Regulation level that regulate the management of abandoned waqf lands.