Thakher Development Company CEO: Strong Performance in Makkah’s Hospitality and Real Estate Sectors During Hajj Season 2023

Thakher Development Company’s CEO, Eng. Abdulaziz bin Saleh Al-Aboudi, announced that the hospitality and real estate sectors in to the Holy City of Makkah are witnessing a strong performance during this year’s Hajj season, driven by various factors, most notably the remarkable increase in hotel occupancy rates compared to the previous year.

Al-Aboudi added that “the hotel occupancy rates in Makkah have reached 100%, such as the “Novotel Thakher Makkah” hotel. This substantial increase in occupancy comes in contrast to the 80% rate observed during the last Ramadan, while the corresponding period in 2022 recorded 60% occupancy rate.”

The CEO of Thakher Development Company attributed this remarkable performance to several factors, most notably hosting of over two million pilgrims this year, after a series of government decisions that have provided comprehensive facilities to serve pilgrims, including allowing Muslims to perform Hajj this year without any restrictions on the number and age of pilgrims.

“This performance is indicative of a prosperous time for the construction and hospitality sectors,” said Al-Aboudi. “We are committed to leveraging this opportunity to contribute to the local economy and create lasting infrastructure that serves both pilgrims and the community in the long run. As part of our commitment, we are developing the infrastructure and master plan according to the specified timeline for both, and we recently inaugurated the Park Inn by Radisson hotel, which has obtained the Hajj license for this year.”

Al-Aboudi further emphasized, “The current strong performance, which we anticipate will persist in the years to come, confirms the impressive success of the ambitious vision of the Kingdom of Saudi Arabia, which aims to accommodate 30 million Umrah performers and 6 million pilgrims by 2030.”

Thakher Makkah project is located approximately 1 km from the Grand Mosque (Haram) and a few kilometres away from the holy sites of Muzdalifah, Mina and Arafat.

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.