Riyadh – Mubasher: Thakher Development Company has unveiled progress on its SAR 26 billion ($7 billion) premium development, Thakher Makkah, according to a press release.
The development project features a mix of residential, retail and hospitality elements. It spans 320,000 square metres on a site located 1 kilometre from the Grand Mosque (Haram).
Giving a project update, Thakher said as part of this initiative, work has been completed on 8 four-star hotel properties as well as hotel apartments, which are being managed by international operators.
In line with its initiative, Thakher will be developing some of the old neighbourhoods of Makkah in coordination with the Royal Commission for Makkah City and Holy Sites.
The CEO of Thakher Development, Abdulaziz bin Saleh Al Aboudi, said: "The government has made huge efforts and provided comprehensive support to achieve the objectives of Vision 2030, aiming to accommodate 30 million Umrah performers and 6 million pilgrims by 2030.”
"I believe, these numbers will be achieved before the deadline, based on the current capabilities we see. Therefore, as real estate developers, we must align our strategies with this direction," Al Aboudi added.
