How Manzil aims to reimagine homeownership for Muslim families

We speak with Dr. Mohamad Sawwaf, co-founder & CEO of Canadian Islamic fintech company, Manzil, on its first faith-driven residential project, which aims to offer a modern yet inclusive ethical housing structure. 

What is Manzil’s broader goal with the launch of its faith-driven residential project?
Manzil’s broader vision is to pioneer Canada’s first purpose-built Muslim community that seamlessly integrates modern urban living with Islamic values and lifestyle needs.

This initiative - known as Manzil Communities - aims to create a vibrant, inclusive, and family-oriented environment where faith, financial ethics, and community infrastructure coexist.

It addresses the growing demand among Muslim families for housing that respects their spiritual, cultural, and financial principles, while also fostering civic engagement and intergenerational prosperity.

Ultimately, our goal is to set a replicable blueprint for inclusive urban development rooted in ethical finance and social purpose.

⁠When will the project be launched?
The first Manzil Communities project is expected to break ground in early 2026, with pre-sales and marketing activities beginning in late 2025.

We are currently in advanced discussions with municipal partners and developers to finalize zoning, design, and financing frameworks.

Full public details, including location, masterplan features, and eligibility criteria, will be announced later this year.

⁠How will Manzil facilitate Shariah-compliant financing for purchasers?
Manzil will offer home financing solutions through its established and Shariah-compliant co-ownership model.

This model is structured without interest (riba) and avoids prohibited elements such as gharar and speculation.

Under this arrangement, Manzil and the customer jointly acquire the property, with the customer gradually purchasing Manzil’s share over time while paying a fair market profit on the portion not yet owned.

The structure is certified by our in-house Shariah board, ensuring compliance with Islamic financial principles and full transparency for buyers.

⁠How has the feedback been so far?
The response has been overwhelmingly positive. Since our initial announcement, we’ve received expressions of interest from over a thousand families across Canada and beyond.

Community leaders, clerics, urban planners, and Islamic organizations have voiced strong support for a development that prioritizes spiritual well-being, halal financing, and culturally informed design.

Many see this as a landmark opportunity to address the housing needs of Muslim communities in a dignified and faith-conscious manner.

⁠How can other Western societies replicate the model?
The key to replicating this model lies in collaboration, customization, and compliance. Faith-driven housing must be co-developed with local communities, supported by financial institutions that understand Islamic ethics, and integrated with municipal planning frameworks.

Western societies can adopt a similar model by supporting alternative financing structures, accommodating religious amenities in zoning bylaws (e.g., prayer spaces, gender-sensitive facilities), and engaging culturally diverse populations in their housing strategies.

Manzil is open to knowledge-sharing and partnerships with organizations globally that are committed to advancing ethical housing and inclusive community development.