JAKARTA – Danantara Indonesia has signed an agreement to acquire an investment asset in the form of a hotel and real estate in Thakher City, Makkah, with local development partner Thakher Development Company (TDC), on Sunday (14/12).

According to an official statement received by IDNFinancials.com, Thakher City is an integrated area located around 2.5 kilometres from Masjid Al-Haram in Makkah.

“Under this agreement, the acquisition covers Novotel Makkah Thakher City, a hotel operating with 1,461 rooms, as well as fourteen plots of land with a total area of approximately 4.4 hectares,” Danantara’s management said.

Danantara Indonesia’s chief executive, Rosan Roeslani, said the move marks the beginning of Indonesia’s long-term investment in the hospitality sector in Makkah and the Kingdom of Saudi Arabia more broadly.

The land will continue to be developed based on an integrated master plan, which includes the construction of hotels, retail space and other supporting facilities, with potential capacity reaching 5,000 rooms.

Danantara Indonesia stressed that the development will be carried out in stages, in line with Makkah’s urban development plans and regulatory approvals.

“This partnership [with TDC] is intended to ensure alignment with applicable regulations, development practices and long-term planning considerations in the Kingdom,” Rosan said in the official statement on Monday (15/12).

At this initial stage, Danantara is coordinating with the Government of the Kingdom of Saudi Arabia through the Royal Commission for Makkah City and Holy Sites (RCMC) as part of the bidding process.

Rosan added that the acquisition of this strategic asset could support the government’s efforts to provide better services for Hajj and Umrah pilgrims.

“The number of Indonesian Hajj pilgrims consistently exceeds two hundred thousand. So this is a good first step,” Rosan said. (ZH)