Thakher Development Company has announced a new partnership with Tatimah Capital, with the aim of developing Thakher Gardens within the project, and to be managed by a global operator, with value exceeding SAR 2 Billion.
The announcement was made during Cityscape Global Exhibition, which is taking place in Riyadh from 10-13 September, 2023. The project consists of three hotels and residential hotel towers, it extends over an area of 11,000 sqm and contains nearly to 400 hotel room and more than 1,500 hotel residential unit. The construction and operation works will take place in several phases and the project is expected to be completed within 5 years.
Eng. Abdulaziz bin Saleh Al-Aboudi, said: “We are delighted to announce the partnership with “Tatimah Capital” to launch “Thakher Gardens” which demonstrate our partners’ confidence and support in Thakher Development Company’s developmental efforts, aiming to achieve the aspirations of investors, visitors, pilgrims, and Umrah performers and general visitors to Makkah. Thakher’s commitment to exceptional options and opportunities, with meticulous attention to detail, is aimed at enhancing the living experience for both visitors and residents, aligning with vision 2030.”
The new agreement signed by Thakher Development Company came at a time of significant growth and activity in the real estate sector of the Holy City of Makkah. This progress is attributed to the steadfast support and directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince and Prime Minister – May Allah protect them. Furthermore, the Royal Commission for Makkah City and Holy Sites has demonstrated exceptional care and attention towards elevating the quality of work and services provided, ensuring the achievement of sustainable development and prosperity in a manner befitting the Holy City of Makkah’s sanctity.
It is noteworthy that Thakher Makkah project first phase is almost completed, while the second phase is expected to be delivered in 2024.
Thakher Makkah project contributes to the Kingdom of Saudi Arabia’s ambitious vision, which aims to host 30 million Umrah performers and six million pilgrims by 2030. The project is spanning over an area of 320,000 sqm. Upon completion, it will include about 100 land plots of various uses for hotels, residential, commercial, and service-related areas. Residential and hotel apartments units will be available in various categories, and the units will be also available for ownership. Among the international hotels in the Thakher Makkah, there are the Radisson Hotel, the Park Inn by Radisson, and the Novotel Hotel, the largest in the world in terms of rooms number.