JOURNAL ARTICLE

Indonesia's Danantara Marks First Overseas Deal With Mecca Asset Purchase.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Suhartono, Harry 3 of 3

Abstract

The article focuses on Indonesia's Danantara signing a deal to acquire a hotel and land in Mecca, Saudi Arabia, marking its first overseas investment. The acquisition includes a 1,461-room Novotel hotel and approximately 4.4 hectares of land in Thakher City, aimed at enhancing services for Indonesian Hajj and Umrah pilgrims. Danantara plans to develop additional projects with a potential capacity of around 5,000 hotel rooms, contingent on feasibility studies and regulatory approvals. The investment aligns with a broader initiative to create a "Hajj Village" to improve travel and lodging for Indonesian pilgrims, reflecting the government's focus on supporting its citizens during these religious journeys. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/12, pN.PAG
  • Document Type:Article
  • Subject Area:Religion and Philosophy
  • Publication Date:2025
  • Accession Number:190254521
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