Danantara completes 4.4-hectare land acquisition in Makkah
The land purchase follows the acquisition of Novotel Thakher Makkah, with plans for hotels, retail and services supporting hajj and umrah pilgrims.
Danantara Indonesia said its investment holding company, PT Danantara Investment Management (DIM), completed the purchase of 4.4 hectares in Saudi Arabia’s Thakher Makkah area on 18 October 2026. The transaction follows its acquisition of Novotel Thakher Makkah, which was handed over on 11 August 2026.
The operating hotel has 1,461 rooms and suites. Both purchases follow a strategic agreement announced by Danantara Indonesia and Thakher Development Company on 14 December 2025. Danantara said the assets form part of its Kompleks Bait Jemaah initiative to provide accommodation and supporting services for hajj and umrah pilgrims.
The land is intended for an integrated development incorporating hotels, retail space and other facilities. Danantara plans to develop it in stages with local partner Al-Khomasiah, which helped complete the transactions. Feasibility studies, approvals and required permit documents will be prepared and submitted for each development phase.
Danantara Indonesia chief executive Rosan Roeslani said the acquisitions were a step towards establishing a long-term hospitality investment platform in Saudi Arabia. He said the group would also explore opportunities in Madinah and strategic sectors beyond property. Chief investment officer Pandu Sjahrir said subsequent stages would be guided by commercial viability, regulatory requirements and prudent governance.
