Danantara Indonesia has completed the acquisition of 4.4 hectares of land in the Thakher Makkah area of Saudi Arabia, following its acquisition of Novotel Thakher Makkah, a hotel with 1,461 rooms and suites. The land transaction was completed on October 18, 2026, while the hotel was acquired and handed over on August 11, 2026 (19/10).

The transactions were conducted through PT Danantara Investment Management (DIM), Danantara Indonesia’s investment holding company. They form part of the company’s long-term investment strategy in Makkah’s hospitality sector and provide a foundation for developing integrated accommodation and supporting services for Hajj and Umrah pilgrims.

Danantara Indonesia Completes Makkah Hotel and Land Acquisition

The acquisitions follow a strategic agreement announced by Danantara Indonesia and Thakher Development Company on December 14, 2025. The transactions combine an operating hotel with additional land intended to support the gradual expansion of accommodation capacity and related services.

The investment forms part of the Bait Jemaah Complex, an ecosystem designed to provide accommodation and supporting services for Hajj and Umrah pilgrims. Danantara Indonesia aims to improve the pilgrimage experience for visitors from Indonesia and other countries through the development of these facilities.

Land Development to Include Hotels and Retail Facilities

The 4.4-hectare land area is planned for inclusion in an integrated master plan covering hotels, retail outlets, and other supporting facilities. Development will take place in stages in cooperation with Al-Khomasiah, a local development partner that supported the transaction and Danantara Indonesia’s presence in Saudi Arabia.

Feasibility studies, approvals, and the required licensing documents for the land will be prepared and submitted according to each development phase. The company has stated that subsequent stages will be guided by commercial feasibility, regulatory requirements, and prudent governance.

Rosan Roeslani, Chief Executive Officer of Danantara Indonesia, said the acquisition marked a step toward establishing a long-term hospitality investment platform in Saudi Arabia.

“This achievement is a concrete step in building a long-term hospitality investment platform in Saudi Arabia. Our focus is to manage these assets with strict investment discipline while developing an integrated ecosystem that improves the quality of accommodation and services for pilgrims from Indonesia and other countries,” Rosan said.

He added that the investment also marked the beginning of closer economic cooperation between Indonesia and Saudi Arabia. Danantara Indonesia plans to explore opportunities in Madinah and other strategic sectors beyond property that could benefit both countries.

Danantara Sees Opportunities to Promote Indonesian Culture and Services

Pandu Sjahrir, Chief Investment Officer of Danantara Indonesia, said the initiative combines an operating hotel with land that allows for long-term expansion as the Hajj and Umrah ecosystem develops.

“At the same time, we see this platform as an opportunity to introduce Indonesian culture, services, and cuisine to a global audience. We will implement the next stages in a measured manner, guided by commercial feasibility, regulatory requirements, and prudent governance to create sustainable long-term value,” Pandu said.

The planned development will bring together hospitality, retail, and supporting facilities as part of the integrated master plan. The company will carry out the next stages gradually, subject to the required studies, approvals, and licensing procedures.

Thakher Development and Khomasiah Highlight Investment Significance

Faisal Shaker, Chief Executive Officer of Thakher Development, described the transaction as a historic milestone for Thakher Makkah. He said the entry of a country from outside Saudi Arabia as a property owner in the area reflected international confidence in Thakher Makkah and Saudi Arabia’s efforts to attract long-term investment partners.

“We are proud to have completed this transaction, from signing to the transfer of ownership, within 10 months,” Faisal said.

He added that Thakher Development would focus on aligning Danantara Indonesia’s investment plans with its development strategy and supporting the next stages of the project. One of the stated aims is to enable more Indonesian pilgrims to stay in accommodation close to Masjid al-Haram.

Ammar Baroum, Chief Executive Officer of Khomasiah Group, said the transaction represented a significant milestone for Makkah and reflected growing international investor confidence in Saudi Arabia’s market and long-term potential.

He also highlighted investment opportunities in Saudi Arabia’s hospitality and real estate sectors, particularly in Makkah and Madinah. Khomasiah Group, he said, was proud to have facilitated the investment in line with Saudi Vision 2030.

Danantara Indonesia said it would continue implementing the initiative in stages and with accountability, while coordinating closely with the relevant authorities in Indonesia and Saudi Arabia. The company also plans to explore further opportunities in other strategic sectors as part of efforts to strengthen economic cooperation between the two countries.

PHOTO: DANANTARA

This article was created with AI assistance.

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