Warees Investments

What Warees Investments does

Warees Investments Pte Ltd, incorporated in 2001 and headquartered at 11 Beach Road, Singapore, is a niche endowment asset management company and the fully owned subsidiary of the Islamic Religious Council of Singapore (Muis). It operates as Muis's corporatised real estate development and asset management arm, responsible for unlocking the value of wakaf (Islamic endowment) and community real estate assets in Singapore. The company manages over 150 properties across 65 endowments with approximately SGD 0.7 billion in assets under management, and handles around 15 mosque projects annually, including new builds, upgrading works, and heritage conservation.

The company's core offerings include turnkey property development, leasing management, feasibility studies, and facilities management, delivered alongside a signature Wakaf Revitalisation Scheme (WRS) framework and an Institutional Investments Initiative (3I) financing blueprint. Warees deploys Islamic-compliant financing structures — Sukuk, Musharakah, and Ijarah — to transform low-yielding wakaf properties into high-value developments, and has pioneered several first-in-region structures, including the first Sukuk-financed wakaf development in Asia Pacific (Wakaf Bencoolen, 2005). Key projects span the Bencoolen mixed-use development, The Red House heritage development in Katong, Alias Villas (WRS II), and the upcoming lyf @ Chinatown service residence (WRS 3) managed by Ascott Limited.

Revenue is generated through development and project management fees, managed services (leasing and facilities management across the 150+ property portfolio), and transaction-based returns from WRS projects. Customers are exclusively Singapore-based institutional community clients — Muis, mosque management boards, wakaf administrators, madrasahs, and Muis group institutions — with all services delivered through direct stakeholder engagement rather than commercial sales channels. The company employs 11–50 staff, operates solely in Singapore, and discloses no external equity investors or external capital structure.

Name

Warees Investments

Legal name

Warees Investments Pte Ltd

Website

https://warees.sg

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Warees Investments is a Singapore-based endowment asset management company and wholly-owned subsidiary of Muis, managing 150+ wakaf and community properties with approximately SGD 0.7 billion in AUM. It provides property development, leasing, feasibility, and facilities management for Singapore's Muslim community.

Ownership category

akta.pro rank

Product category

Wakaf and Endowment Asset Management

NAICS

Trust, Fiduciary, and Custody Activities (523991), Trusts, Estates, and Agency Accounts (525920)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Estate, Gift & Trust Valuation (BPAHANAL)

akta.pro secondary industries

Islamic Investment Banking & Capital Markets Services (FSABAGAG), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

Keywords

• Wakaf asset management
• Endowment property development
• Islamic real estate
• Mosque construction services
• Heritage property revitalization

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Property Development Fees: Warees earns development fees as the developer and project manager for wakaf and community real estate projects including commercial, residential, and institutional properties such as mosques and madrasahs.
2. Leasing and Property Management: Warees manages and leases over 150 properties under its care, maximising tenancy returns for stakeholders and Wakaf beneficiaries through active leasing management.
3. Asset Enhancement and Facilities Management: Fees generated from providing turnkey solutions including facilities management, asset enhancement initiatives, and maintenance services for community real estate assets.
4. Wakaf Revitalisation Scheme (WRS) Project Returns: Warees develops wakaf properties under the Wakaf Revitalisation Scheme, unlocking value of low-yielding properties into high-yielding ones. Returns are distributed to endowment beneficiaries and participating institutions. The Institutional Investments Initiative (3I) enables community institutions to invest in WRS projects, generating income for charitable and educational purposes.
5. Feasibility Studies and Consulting: Warees conducts robust feasibility studies including developing financing structures specifically catered for the Muslim community, likely generating consulting fees.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Warees Investments provides turnkey real estate asset management, property development, leasing management, feasibility studies, and facilities management services for wakaf (Islamic endowment), mosque, madrasah, and community real estate assets in Singapore. As the corporatised development arm of Muis, the company unlocks value from low-yielding endowment properties through its proprietary Wakaf Revitalisation Scheme (WRS) and the Institutional Investments Initiative (3I) financing programme. Services are delivered to institutional clients including Muis, wakaf trustees, mosque management boards, and madrasahs across Singapore.

Product overview

Warees Investments is a niche asset management company (wholly owned by Islamic Religious Council of Singapore/Muis) offering a unified platform of real estate services focused on wakaf, mosque, and community asset management. The core offerings include Property Development, Leasing Management, Feasibility Studies, and Facilities Management services. The company operates signature programmes including the Wakaf Revitalisation Scheme (WRS) for transforming low-yielding wakaf properties into high-value developments, and the Institutional Investments Initiative (3I) financing instrument enabling community participation. Key projects span residential developments (lyf @ Chinatown, The Red House, Alias Villas, Bencoolen Development), mosque building and upgrading projects (Al-Islah, Yusof Ishak, Maarof, Al-Ansar, Darul Ghufran mosques), and heritage conservation. Through its subsidiary Wareesan Management Pte Ltd, the company also provides exhumation and re-interment management services. The portfolio encompasses over 150 properties, 65 endowments, and approximately S$0.7 billion in assets under management.

Differentiator

Problem solved

Functional benefit

Products and services

• Property Development Turnkey property development services for commercial, residential, and institutional properties, with 20+ years of experience developing assets for the Muslim community in Singapore.
• Leasing Management Management and maximisation of tenancy returns for 150+ properties under Warees' care, serving stakeholders and beneficiaries through active leasing of commercial and residential space.
• Feasibility Studies Robust feasibility studies and the development of Islamic-compliant financing structures tailored for community properties, supporting wakaf administrators and mosque boards in evaluating projects.
• Facilities Management Development and management of facilities including cleaning, security, sinking funds deployment, and waste management for community-owned properties.
• Wakaf Revitalisation Scheme (WRS) Signature asset revitalisation programme transforming low-yielding wakaf properties into high-value developments, including WRS I, II, and III phases.
• Institutional Investments Initiative (3I) Asset creation and wakaf enhancement financing blueprint enabling community institutions to invest in WRS projects and earn recurring returns, with mosque boards receiving 2.1% per annum.
• Real Estate Portfolio Management Full-scale portfolio management combining real estate and finance capabilities across the entire range of services for wakaf, mosque, and madrasah assets under Warees' care.
• Heritage & Conservation Property Management Specialised management and transformation of heritage and conservation buildings in the portfolio, integrating heritage preservation with commercial returns.

Quantifiable outcome

• Wakaf Bencoolen value appreciation from SGD 800,000 to more than SGD 71 million in under 10 years.
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and flagship.

• The Ascott Limited (CapitaLand Investment)coreChannel Partner/ Reseller/ Distributor · 24 May 2024Ascott Limited, the lodging business unit wholly owned by CapitaLand Investment, has been commissioned to manage the 90-key service residence at lyf @ Chinatown (Jamae Chulia Heritage) upon its completion in mid-2026. This is the second partnership between Warees and Ascott, following the Bencoolen Development where Ascott manages the serviced apartments.
• RSP ArchitectscoreTechnology or Integration · 24 May 2024RSP Architects is the award-winning global multidisciplinary architectural and engineering design group engaged to design the lyf @ Chinatown / Jamae Chulia Heritage mixed development. The firm is responsible for the overall architecture of the 90-key service residence and commercial retail/dining spaces.
• FARM (Design Consultancy)coreTechnology or Integration · 24 May 2024FARM is a renowned interior design consultancy firm engaged for the lyf @ Chinatown / Jamae Chulia Heritage project, responsible for interior design of the boutique development.
• WBD Legacy Pte LtdcoreStrategic or Co-development Partner · 1 January 2018WBD Legacy Pte Ltd is a subsidiary of Warees Investments formed in 2018 to enter into a Joint Development Agreement (JDA) with Muis for the Bencoolen Development revitalisation under Wakaf Revitalisation Scheme (WRS) II, and to manage the property operator.
• Islamic Religious Council of Singapore (Muis)flagshipStrategic or Co-development PartnerMuis is the sole shareholder of Warees Investments Pte Ltd. Warees operates as the fully owned subsidiary and corporatised development arm of Muis, responsible for managing, developing, and revitalising wakaf, mosque, and madrasah properties across Singapore. This is the core institutional relationship underpinning all of Warees' activities.
• Wakaf Al-HudacoreStrategic or Co-development PartnerWakaf Al-Huda (Alias Villas) is Singapore's oldest Islamic asset (declared wakaf in 1905). Warees partnered with Wakaf Al-Huda under subsidiary WHA Heritage Pte Ltd to redevelop the land parcel into Alias Villas — six prestigious semi-detached strata-titled residential units. Proceeds fund mosque enhancement works.
• WHA Heritage Pte LtdcoreStrategic or Co-development PartnerWHA Heritage Pte Ltd is a joint venture subsidiary formed between Warees Investments and Wakaf Al-Huda to develop the Alias Villas project under the Wakaf Revitalisation Scheme (WRS).
• Ascott International Management (AIM)coreChannel Partner/ Reseller/ DistributorAscott International Management Pte Ltd manages the Bencoolen Development serviced apartments under a management agreement. WBD Legacy (Warees subsidiary) entered into a 10-year Management Agreement with AIM for the management of the property following its WRS II revitalisation.
• Aamer ArchitectscoreTechnology or IntegrationAward-winning Singapore-based architectural firm responsible for the design of Alias Villas. The firm worked with Warees Investments to design a prestigious heritage development that relates to the history of the former Kampong Tempeh and Masjid Al-Huda.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Perbadanan Wakaf Selangor: Selangor state statutory body that manages Islamic endowment (wakaf) assets and develops/revitalises them to generate sustainable income for beneficiaries in Malaysia — closely analogous in mandate, customer base (Muslim community institutions), and asset class to Warees.
• Lembaga Tabung Haji: Malaysian statutory body managing Islamic community assets and investments on behalf of Muslim beneficiaries. Operates with a similar community-mandate mission, capital stewardship discipline, and government-linked governance, though focused on hajj savings rather than wakaf real estate.
• Majlis Agama Islam Selangor (MAIS): Selangor's Islamic Religious Council with authority over wakaf assets, mosque development, and Islamic affairs. Similar to Muis as parent/governing body, with comparable mandate over community real estate development and endowment management.
• Yayasan Wakaf Indonesia: National-level Indonesian wakaf foundation focused on managing and developing Islamic endowment assets across the world's largest Muslim population — comparable in mission and asset class to Warees, though less corporatised and less focused on commercial development.

Broad incumbents

• City Developments Limited (CDL): Major Singapore-listed property developer with a portfolio spanning residential, commercial, and hospitality. Comparable in Singapore real estate development scale, capital base, and long project cycles, though focused purely on commercial returns rather than community/heritage mandates.
• Frasers Property: Singapore-listed multi-national real estate developer and investor with mixed-use, residential, and commercial exposure in Singapore. Comparable in Singapore-centric multi-sector real estate operations and asset enhancement mandates, but commercially rather than communally focused.
• CapitaLand Investment: Singapore-listed asset manager with lodging (Ascott) and fund management arms. Compares to Warees on the lodging/Singapore real estate axis (Ascott is Warees' service-residence operator partner) but operates as a broad commercial platform rather than a community-mandate entity.
• Mapletree Investments: Temasek-linked Singapore real estate investment manager with multi-asset-class portfolios including commercial, residential, and lodging. Shares the Singapore-centric real estate investment/development franchise though it operates across all asset classes and does not specialise in community/endowment mandates.
• Surbana Jurong: Temasek-owned Singapore infrastructure and real estate consultancy with deep government-linked project delivery expertise. Mirrors Warees' turnkey development-from-feasibility-through-completion capability and Singapore institutional client base, but spans infrastructure, master planning, and commercial real estate.

Regional players

• Emaar Properties: UAE-headquartered developer of master-planned communities, malls, and hospitality assets across the Middle East and Asia. Comparable in pioneering large-scale Islamic-market real estate development and in leveraging premium operator brands, but operating in a different geography and a different regulatory/cultural context.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/warees_invest

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Warees Investments