A new Shariah compliant investment opportunity is being developed as part of an upcoming project on Malaysia’s Langkawi island, that is pitched as the world’s first Islamic retirement sanctuary.
Project developer Bina Darulaman will seek local bank partners to offer Shariah financing packages for various property offers – which include four-storeyed townhouses, all featuring senior-friendly designs. Other options are studio, two-bedroom and three-bedroom apartments.
The Aman Seterra Sanctuary aims to attract retirees from Japan, Australia, Singapore, the UK and Europe, said Executive Director Raja Shahreen Raja Othman, beyond the other focused high-valued Islamic markets in the Middle East and Asia.
Bina Darulaman’s wholly-owned unit Aman Lagenda partnered with Seterra Holdings to undertake this ambitious 12.42-acre project situated at the scenic locale of Kuala Temoyong, Langkawi, “as a key hub within the broader ‘silver economy’,” said Raja Shahreen.
The silver economy, estimated to exceed US$9.1 trillion in global value by 2029, refers to activity related to the needs and wants of individuals aged 50 and older. This demographic – often possessing significant disposable income and specific requirements for healthcare, leisure and lifestyle – represents a massive and growing global market.
When completed, this project integrates independent living, assisted care and long-term support in a purpose-built community coming at a time when Malaysia has also transitioned into an “aging society,” according to a 2024 study by the Department of Statistics.
Aman Seterra builds upon other faith-influenced retirement models where the elderly are cared for with values that align with their beliefs. The sanctuary will have dedicated prayer facilities (Musolla), spiritual counseling, and culturally inclusive ethical care. Raja Shahreen, however, stressed that Aman Seterra will be open to individuals of all faith, fostering an inclusive and respectful community.
Beyond accommodation, the sanctuary will provide extensive infrastructure and lifestyle amenities focused on the physical, mental, and spiritual well-being of its residents. These include a mini ambulatory care center, a memory clinic, specialized rehabilitation and wellness programs, social spaces like co-working areas and art workshops, and other recreational facilities.
