Waqf is a one of the instrument for the poverty alleviation among the community because it can encourage the development of economic well-being. If the economic well-being of people can reach, thus there is no gap between the rich and poor. In order to ensure that the waqf system line with the modernization nowadays, then corporate waqf was introduced. Johor Corporation Berhad (JCorp) is an innovator of this corporate waqf which bring the great changes to the waqf system as a whole. The objective of this article is to identify the uniqueness of the corporate waqf and to investigate the contribution of this type of waqf towards economic well-being of the people. The methodology of this article is a quantitative research based on the document analysis of relevant references. The general finding of this article shows that the proper implementation of corporate waqf is very useful in developing the economic well-being of the people.