Framework of affordable cooperative housing through an innovative waqf-based source of finance in Karachi

Purpose The purpose of this research is to introduce an innovative framework called the waqf cooperative housing (WCHF), with objective create a synergistic equilibrium between and schemes. To tackle problems related dearth financing, postulates waqf-based source finance that involves generating revenue from common areas (waqf area) within vicinity condominium. Design/methodology/approach Primary data were collected through interviews analysed using NVIVO software. interviewees comprised managers property development sectors, public sector officials, university lecturers in Islamic finance, CEOs, top management officials financial institutions, community leaders shariah scholars. Findings A was proposed based on result interviews. It found models such as WCHF can resolve issue affordable Karachi decreasing burden exchequer, bringing positive change lives poor, fulfilling developer’s corporate social responsibility, religious duty general condominium owners towards their fellow beings well creating new employment opportunities for people who are working companies/trustees) construction sector. Research limitations/implications Even though study has introduced practical solution financing housing, it also encountered some limitations. First, conducted city involving six group respondents; thus, findings cannot be generalised other contexts. Similar needs different Originality/value date, among first studies, best authors’ knowledge, investigate help tools context Pakistan. Furthermore, insufficient attention been given enabling hindering factors behind acceptance seeks initiate scheme tool generates around