In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
Designating land as Waqf is unanimously accepted by all scholars. In fact, this is clearly mentioned in the sacred Islamic sources:
Umar (may God be pleased with him) said: “O Messenger of God, I have got wealth from Khaybar and I have nothing that is more precious to me than that. What do you command me to do with it?” He said, “If you wish, you can put it aside and give in Waqf from it (from what it produces), but the original property should not be sold, given away or inherited.” (Sahih al-Bukhari)
And Allah Alone Knows Best
Mufti Faraz Adam,
I Waqf Shariah Advisor