Eng. Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Company, stated that he anticipates Makkah will host 30 million Umrah performers annually by 2030.
Al-Aboudi made these remarks during his participation in a panel discussion at the second edition of the Manafea Forum 2024, which took place under the patronage of Prince Salman bin Sultan bin Abdulaziz, Governor of the Madinah Region, and was hosted by Prince Saud bin Khalid Al-Faisal, Deputy Governor of the Madinah Region.
Al-Aboudi stated, “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 2030, based on the current capabilities we see. Therefore, as real estate developers, we must align our strategies with this direction”.
During the session, Al-Aboudi highlighted that allowing non-Saudis to invest directly and for the long term in listed companies owning real estate in Makkah and Al-Madinah, as well as through licensed funds. He emphasized that this trend “contributes positively to the real estate market and the Saudi economy at large, paving the way for significant investment returns in the hospitality sector by 2030, and opening new avenues for development and investment”.
Al-Aboudi confirmed that work on the “Thakher Makkah” project is progressing with significant determination, aligning with the expectations of investors and visitors alike, including pilgrims and Umrah performers, as well as those visiting the Holy City of Makkah more broadly, with the aim of offering an unparalleled experience in the Holy Capital. He highlighted that, as part of this initiative, eight four-star hotels and hotel apartments have been developed, which are managed by international operators. These facilities boast over 2,276 rooms and 7,000 beds, providing high-quality services designed to fulfil the diverse needs of all visitors.
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 sq. m. 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 number of rooms. In addition to the company’s involvement in developing the old neighborhoods of Makkah in coordination with the Royal Commission for Makkah City and Holy Sites, and providing distinguished services to pilgrims.
-
-
-
-
