A project or business’s ability to generate enough income or profit to cover its costs and return on investment is called financial feasibility. Financial feasibility is crucial to waqf land housing project viability. The lack of affordable housing, especially in Malaysia, is a major concern for waqf organisations given their expected role in social issues. The paper examines Taman Salehuddin Telok Chengai in Alor Star to assess waqf land dwelling development financial viability. This article analyses the case study’s gross development cost (GDC), gross development value (GDV), gross profit (GP), gross profit margin (GPM), and return on investment. Waqf land used for home building is clearly in conformity with its principles. This project might benefit the developer, the Kedah State Islamic Religious Council (SIRC), and the people of Kedah. These conversations should improve awareness of waqf land housing development and waqf organisation management, benefiting all parties. Housing construction on waqf property accords with waqf’s basic ideals and offers a great prospect for sustainable growth and community development in the region.