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View all search resultsDanantara buys Mecca hotel, land assets amid Haj Village push
Under the agreement, both Danantara and Thakher Development will acquire the Novotel Makkah Thakher City, a 1,461-room hotel, along with 14 land plots spanning roughly 4.4 hectares earmarked for future development.
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A person stands on Dec. 13, 2025, in front of Novotel Thakher Makkah Hotel, a 1,461-room hotel in Mecca, Saudi Arabia. Under the agreement, both Danantara and Takher Development acquired the hotel along with 14 land plots spanning roughly 4.4 hectares earmarked for future development. (Courtesy of/Danantara)
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tate asset fund Danantara has signed a strategic acquisition agreement with Saudi Arabia’s Thakher Development Company, marking its initial entry into the kingdom’s hospitality and real estate sectors as part of efforts to expand support for haj and umrah pilgrims.
The deal covers hotel and land assets in Thakher City, a mixed-use development about 2.5 kilometers from the Grand Mosque in Mecca, which is claimed to be among the closest large-scale projects to the holy site.
“While ownership of the identified assets has been formalized under the agreement, further development will be carried out in stages, subject to comprehensive feasibility studies, regulatory considerations and prudent governance standards,” Danantara CEO Rosan Roeslani said in a statement on Sunday.
Under the agreement, both Danantara and Thakher Development will acquire the Novotel Makkah Thakher City, a 1,461-room hotel, along with 14 land plots spanning roughly 4.4 hectares earmarked for future development.
The land is planned to be developed under a single master plan that includes hotels, retail space and supporting facilities, aligned with Mecca’s urban development framework.
The initial investment includes an operating hotel and development land with a potential capacity of up to about 5,000 hotel rooms, depending on further studies and approvals, the statement added, without disclosing financial details.
Meanwhile, Saudi Arabia’s Al Khomasiah Real Estate Development will act as a local development partner, providing on-the-ground expertise and experience in Mecca to ensure compliance with local regulations and planning requirements.
