Thakher Development Completes SAR 2B Landmark Handover to Danantara Indonesia in Makkah
Marking a historic milestone for foreign property ownership in Makkah, Thakher Development completes the SAR 2 billion sale of the 1,461-room Novotel Thakher Makkah and 14 development plots to Indonesia’s sovereign wealth fund. MAKKAH, Saudi Arabia – SeaPRwire – Thakher Development, the master developer of the Thakher Makkah megaproject, has officially completed the handover of property ownership certificates to Danantara Indonesia, Indonesia’s sovereign wealth fund. The milestone marks one of the first major real estate acquisitions by an international sovereign investor in Makkah, completing Danantara’s SAR 2 billion (approx. US$ 533 million) purchase of the Novotel Thakher Makkah hotel towers and 14 adjoining development plots. The transaction was made possible by Thakher Makkah’s position as an established, integrated destination 1.2 kilometres north of the Grand Mosque. Spanning 320,000 square metres, with a total investment value of more t...