Danantara Indonesia Signs Strategic Agreement on Multi-Asset Acquisition with Thakher Development Company in Makkah
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Makkah, Kingdom of Saudi Arabia, December 14, 2025 - Danantara Indonesia, through Danantara Investment Management (DIM), today announced the signing of an agreement with Thakher Development Company on the acquisition of hotel and real estate assets in Thakher City, an integrated development located approximately 2.5 kilometers from the Masjid al-Haram in Makkah.
The deal manifested Danantara Indonesia's strategic first step into the hospitality sector in Makkah and is part of a long-term strategy to support efforts to improve services for Indonesian hajj and umrah pilgrims. Each year, the number of Indonesian umrah pilgrims reaches more than two million while the number of Indonesian hajj pilgrims consistently exceeds 200,000. In this context, asset-related investments in this phase include one hotel that is already in operation and a series of hospitality-oriented development assets with a potential capacity of around 5,000 hotel rooms, all of which remain subject to further study and approval by the regulators.
Based on the agreement, Danantara Investment Management and Thakher Development Company have agreed to acquire Novotel Makkah Thakher City, a 1,461-room hotel, as well as 14 plots of land measuring approximately 4.4 hectares allocated for future development. The land plots are to be developed under an integrated master plan that includes hospitality facilities, retail, and other supporting facilities, in line with the urban development framework in the city of Makkah.
Rosan P. Roeslani, CEO of Danantara Indonesia, stated that the agreement laid the foundation for long-term involvement in the hospitality sector of the Kingdom of Saudi Arabia. "This signing is an important first step in securing strategic assets that can support Indonesia's efforts to improve services for pilgrims. Although ownership of the identified assets has been formalized through this agreement, further development will be carried out in stages based on comprehensive feasibility studies, regulatory considerations, and prudent governance standards," he said.
The transaction is supported by Al Khomasiah Real Estate Development as a strategic local development partner that brings market expertise and development experience in Makkah. The partnership is aimed at ensuring alignment with applicable regulations, development practices, and long-term planning considerations in the Kingdom.
Preliminary studies indicate that, subject to comprehensive technical studies and compliance with all applicable regulatory processes, the development of these acquired assets has the potential to support the provision of accommodation and services for Indonesian hajj and umrah pilgrims. The agreement is the first step in a long-term development strategy and provides a structured framework for the next stages, including development, construction, hotel operations, and other supporting services. All stages of development will be carried out in coordination with the relevant authorities in Saudi Arabia and Indonesia, in line with the applicable licensing and governance processes.
All stages of development will be carried out through close coordination with the relevant authorities in Saudi Arabia and Indonesia. Meanwhile, Danantara Indonesia is also coordinating efforts with the Government of the Kingdom of Saudi Arabia through the Royal Commission for Makkah City and Holy Sites (RCMC) in the ongoing bidding process as part of the first stage of developing this long-term cooperation.
As an institution mandated to manage and optimize state investments, Danantara Indonesia views this initiative as part of a broader long-term approach that is aligned with national development priorities and the values of Asta Cita. Through a gradual and accountable process supported by strong institutional governance, Danantara Indonesia is committed to ensuring that each stage of implementation provides sustainable and measurable public value.
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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.
For further information, please contact:
Communications Team
Danantara Indonesia
media@danantaraindonesia.com