Indonesia has become the first foreign country to own property in the holy city of Mecca, Saudi Arabia. This achievement came after the receipt of ownership certificates by the Danantara Indonesia National Wealth Fund valued at 2 billion Saudi riyals (equivalent to 531.4 million dollars).
Details of the Property Purchase
The mentioned properties were purchased by Danantara Indonesia through its investment arm, Danantara Investment Management, in the Thakher Makkah area located 1.2 kilometers north of the Masjid al-Haram. This large urban project holds special significance due to its strategic location near one of the most important holy sites for Muslims.
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Historical Implications of This Action
A new chapter in economic and cultural relations between Indonesia and Saudi Arabia has begun with this action. Faisal Shakir, CEO of Thakher Development Company, stated: "This is a historic moment for Thakher Makkah. The welcoming of the first foreign country as a property owner in this destination reflects international confidence in the Thakher Makkah project." This step could pave the way for attracting more investments from other countries and positively impact the development of tourism infrastructure in the region.
Given the large Muslim population in Indonesia and their interest in traveling to Mecca for Hajj and Umrah, this action could help increase tourism and economic growth in the area. Additionally, the development of real estate in Mecca could lead to the creation of new jobs and an increase in the standard of living in this holy city.
In recent years, Saudi Arabia has made significant efforts to attract foreign investments and strengthen its non-oil economy. This action by Indonesia aligns with Saudi Arabia's developmental plans and the country's new approach towards international cooperation.
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