Danantara completes purchase of 1,461-room hotel in Makkah
The 2 billion Saudi riyal acquisition includes 14 nearby development plots and forms part of an accommodation programme for hajj and umrah pilgrims.
Indonesia, through Danantara, has acquired the Novotel Thakher Mekkah hotel and 14 surrounding development plots in a transaction worth 2 billion Saudi riyals. Thakher Development handed over the ownership documents, completing the purchase, according to an Arab News report.
The four-star hotel has 1,461 rooms and is in the Al Andalus district of the Thakher Makkah area, about 2.5 km from the Grand Mosque. Its facilities include restaurants, a fitness centre and meeting space.
The acquisition is part of the Bait Jemaah complex, an initiative intended to provide accommodation and supporting services for hajj and umrah pilgrims. Further development of the area will include hotels, retail space and other supporting facilities. The hotel is expected to accommodate around 4,400 pilgrims during the hajj.
Danantara chief executive Rosan Roeslani said the transaction was a step towards establishing a long-term hotel investment platform in Saudi Arabia. He said the focus would be on disciplined asset management and developing integrated accommodation and services for pilgrims from Indonesia and other countries.
