Danantara Indonesia Completes Acquisition of Hospitality Assets in Makkah, Advancing Long-Term Pilgrimage Ecosystem Development
Share to
Jakarta, 19 October 2026 – Danantara Indonesia, through its investment arm, PT Danantara Investment Management (DIM), today announced the completion of its acquisition of 4.4 hectares of land plots within Thakher Makkah, following the acquisition and handover of Novotel Thakher Makkah on 11 August 2026. The transaction establishes a long-term investment presence in Makkah’s hospitality sector and provides a foundation for the development of an integrated accommodation and services ecosystem for Hajj and Umrah pilgrims.
The completed acquisitions comprise an operating hotel with 1,461 rooms and suites, acquired and handed over on 11 August 2026, alongside 4.4 hectares of land plots, the acquisition of which was completed on 18 October 2026. The transactions follow the strategic agreement announced by Danantara Indonesia and Thakher Development Company on 14 December 2025.
The investment forms part of the Hajj and Umrah ecosystem (Bait Jemaah Complex) which is intended to provide accommodation and supporting services for Hajj and Umrah pilgrims, and advances Danantara Indonesia’s long-term strategy to improve the pilgrimage experience. By combining an existing hospitality asset with land for future development, the transaction provides a foundation for a phased approach to expanding accommodation capacity and supporting services.
The land plots are intended to form part of an integrated master plan encompassing hospitality facilities, retail, and other supporting amenities. Future development will be undertaken in stages with Al-Khomasiah, a local development partner that supported the completion of this transaction and Danantara Indonesia's wider presence in the Kingdom of Saudi Arabia. The required feasibility studies, approvals, and applicable licensing documentation for the plots will be prepared and provided in accordance with each stage of development.
Rosan Roeslani, Chief Executive Officer of Danantara Indonesia, said, “This milestone represents a concrete step in building a long-term hospitality investment platform in Saudi Arabia. Our focus is to manage these assets with rigorous investment discipline while developing an integrated ecosystem that enhances the quality of accommodation and services available to pilgrims from Indonesia and around the world. More broadly, this marks the beginning of a deeper economic partnership between Indonesia and the Kingdom of Saudi Arabia, and we will continue to strengthen our bilateral cooperation by exploring opportunities in Madinah and other strategic sectors outside of real estate that will be mutually beneficial for both nations."
Pandu Sjahrir, Chief Investment Officer of Danantara Indonesia, added, “This initiative brings together an asset that is already operating with land that gives us room to expand over the long term as the Hajj and Umrah ecosystem continues to grow. At the same time, we see this as an opportunity to introduce Indonesian culture, hospitality, and cuisine on the global stage. We will take a measured approach to the next stages, guided by commercial feasibility, regulatory requirements, and prudent governance, with the aim of creating sustainable long-term value."
Faisal Shaker, Chief Executive Officer of Thakher Development, said, “This is a historic moment for Thakher Makkah. Welcoming the first foreign state to own property in our destination reflects international confidence in Thakher Makkah, and in the Kingdom’s opening of Makkah to long-term partners who share its commitment to serving the guests of Allah. As Thakher Development, we design investment opportunities for partnerships of this scale, and we are proud to have taken this transaction from initial signature to transferring the title in 10 (ten) months. Our focus now is to ensure that Danantara’s investment ambition and our development strategy align and to help Danantara deliver the next phase, so that more of Indonesia’s pilgrims can remain within reach of the Haram. Today, we have turned this opportunity into a replicable model to serve as the gateway for foreign investors into Makkah.”
Ammar Baroum, Chief Executive Officer of Khomasiah Group, stated, “This landmark transaction represents a significant milestone for Makkah, reflecting growing international investor confidence in the Saudi market and its long-term potential. Danantara Indonesia’s commitment underscores the Kingdom’s attractive investment environment and the opportunities across its hospitality and real estate sectors, particularly in Makkah and Madinah. We are proud of Khomasiah’s role in facilitating this investment and supporting foreign direct investment in line with Saudi Vision 2030.”
Danantara Indonesia will continue to pursue this initiative through a phased and accountable approach, in close coordination with the relevant authorities in Saudi Arabia and Indonesia. This acquisition represents an important step in the long-term development of a world-class Hajj and Umrah ecosystem, providing a platform to further strengthen the longstanding relationship between the two countries, including by exploring potential opportunities across other strategic sectors.
—END—
About Danantara Indonesia
Danantara Indonesia, officially known as Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara), is a strategic investment management institution established under Law No. 1 of 2025. As an independent entity under the President, Danantara Indonesia's mandate is to manage and optimize government investments and assets from State-Owned Enterprises (SOEs) in order to support the achievement of the Asta Cita vision, strategic national plans, as well as government programs to accelerate industrialization and economic growth. With a professional, transparent, and accountable approach, Danantara Indonesia aims to strengthen the governance of state assets, create added value for the economy, while increasing Indonesia's competitiveness in the global market.
More on Danantara Indonesia: https://www.danantaraindonesia.co.id
For more information, please contact:
Danantara Indonesia Communications Team
media@danantaraindonesia.com