In Penang, all waqf properties are under the sole trusteeship of the Penang Islamic Religious Council (MAINPP). To date, Mohamed Hashim Waqf Land has already been productively developed in accordance with the waqf givers wishes. However, there are significant issues and challenges remain in the waqf property development process of Mohamed Haji Hashim Waqf Land. Hence, this study was conducted to analyze lessons learnt from Mohamed Haji Hashim Waqf Land development. This study uses qualitative research methodology. The data was collected via library research method and semi-structured interview. Later, the data was analyzed using thematic and content analysis method. The findings prove that there are several issues and challenges that arise and need to be addressed by MAINPP to ensure the development of waqf lands in Penang can be proceeded without hitches. The results of the study consist of valuable lessons that can be proposed to MAINPP and the developer in improving the process of waqf land development so that waqf properties can be developed optimally and provide profitable returns to the Muslim community in Penang.