Indonesian sovereign wealth fund eyes hotel, property assets in Mecca
Indonesia's sovereign wealth fund, Danantara Indonesia, has inked an agreement with Jeddah-based Thakher Development Company to acquire hotel and real estate assets.
Danantara is looking to acquire assets within Thakher City complex, an integrated development located few kilometers from the Grand Mosque in Mecca.
Danantara and Thakher Development Company will acquire Novotel Makkah Thakher City, a 1,461-key hotel, along with 14 plots, totalling nearly 4.4 hectares. The plots will be developed pursuant to an integrated master plan, that will include hospitality, retail and other offerings.
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