Thakher Makkah Unveils $53 Million Radisson Hotel & Residences and Announces $400 Million Land Sales for Three Hotel Towers
During the Cityscape Global Exhibition, the world’s largest real estate event, Thakher Makkah revealed the launch of the Radisson Hotel & Residences, a project valued at over $53 million (SAR200 million). This marks the developer’s third major launch, following its recent acquisition of a marketing permit for the new hotel.
In addition to this development, Thakher Makkah has announced land sales worth over $400 million (SAR1.5 billion), allocated for the construction of three hotel residential towers.
Upon its anticipated completion in 2033, Thakher Makkah is expected to accommodate over 1.6 million visitors and pilgrims through its extensive range of hospitality offerings, including hotels, residences, and commercial accommodations. This project aligns with Saudi Arabia’s Vision 2030, which aims to host 30 million Umrah performers and 6 million Hajj pilgrims annually.
Thakher Makkah’s Vision for a New Standard of Living
In an exclusive interview with Thakher Makkah CEO, Eng. Abdulaziz AlAboudi, explained the developer’s mission to enhance the city’s livability for locals and visitors alike.
“We wanted to create a unique product that adds value to Makkah as it rightly deserves, not just by constructing commercial buildings, but by setting a new standard for living in the city. Our vision focuses on connectivity and attraction, aiming to improve the quality of life for residents and visitors,” AlAboudi stated.
One of the project’s key goals is to improve services for pilgrims and Umrah performers, enriching their experience in Makkah. AlAboudi highlighted the recent achievement of direct access to King Abdulaziz International Airport in Jeddah, allowing visitors to reach the Holy Mosque (Haram) in just one hour. Plans are also being finalized to make the Haram within walking distance from the development.
$7.2 Billion Vision for Thakher Makkah
Thakher Makkah’s total project value is estimated to exceed $7.2 billion (SAR27 billion). The first phase is nearing completion, and the second phase is expected to be delivered by 2024. The company has already invested around $1.3 billion (SAR5 billion), with 70% of that budget allocated to infrastructure and land preparation.
“We’ve focused on infrastructure in the first phase but have also erected several buildings and established various institutions and trading businesses, creating a vibrant community,” AlAboudi said.
Addressing Makkah’s Unique Challenges
AlAboudi also pointed out the unique challenges of developing in Makkah, including the city’s topography and seasonal shifts during religious events such as Ramadan and Hajj. Developers must work carefully to avoid disrupting the sacred Zamzam water streams that run underground.
Thakher Makkah is committed to adopting international standards to make the project environmentally sustainable, using energy-efficient materials and reusing cut rocks. These efforts aim to reduce construction costs, shorten project timelines, and create job opportunities for younger generation
