CEO, Eng. Abdulaziz bin Saleh Al-Aboudi explores Thakher Development company’s industry influence through their monumental Kingdom project…
Thakher Development Company oversees the master planning and infrastructure of the Thakher Makkah project, a significant real estate endeavour in Saudi Arabia. With its expansive size and diverse range of hospitality offerings, including hotels, residential, and commercial spaces, this project is poised to enhance the quality of life for its residents and visitors. Once all development phases are completed, the Thakher project will accommodate over 1.6 million visitors and pilgrims. “This aligns with the goals of Vision 2030 to host 30 million Umrah performers and six million pilgrims by 2030,” says Eng. Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Company.
He continues, “A primary objective of the project is to deliver exceptional services to pilgrims and Umrah performers, enhancing their overall experience. With its modern and unique development approach, the project aims to fulfil the expectations of visitors and investors alike.” Moreover, it fosters an appealing and sustainable business environment in the Holy City.
Standing Out
Covering a vast area of 320,000 square meters and approximately 1 kilometre from the Holy Masjid (Haram), the Thakher Makkah project stands out as one of the most comprehensive real estate ventures in Makkah. Its diverse facilities aim to elevate accommodation services in the city while fostering an appealing and sustainable environment for businesses and the community, generating over 30,000 job opportunities. Benefiting from strategic positioning and connectivity to major highways, the project allows investors and visitors, including pilgrims and Umrah performers, to reach the Holy Masjid (Haram) within just one hour from King Abdulaziz International Airport in Jeddah, with minimal traffic congestion.
Moreover, its infrastructure includes essential amenities such as hotels, roads, tunnels, landscapes, shopping areas, restaurants, and cafes. The shopping centre within the project will feature 124 stores offering international and local brands, entertainment options for children and a variety of dining choices catering to diverse tastes. Additionally, the project boasts ample parking space for up to 10,000 vehicles and includes a mosque capable of accommodating 5,000 worshippers.
Upon completion, the Residential and hotel apartments will be available in various categories and for freehold ownership. Among the international hotels in Thakher Makkah are the Radisson Hotel, the Park Inn by Radisson, and the Novotel Hotel, the largest in the world in terms of room numbers.
Technology Advancements
At Thakher Makkah, environmental sustainability is a top priority. For example, this project consciously tries to reuse cut rocks for road paving and selects materials that adhere to energy-saving standards and waste-reduction practices. Moreover, integrating advanced technology into construction processes drives down local building costs and boosts overall efficiency, leading to more competitive pricing and accelerated project completion times.
Upcoming Projects
“Our main objective now is to complete the second phase of the project by 2024. Our business success is measured by our commitment to delivering the project according to the timelines set and providing unprecedented high-quality services and opportunities to investors and visitors,” explains Abdulaziz.
It’s essential to highlight recent significant project unveilings within the scope of Thakher Makkah, including the introduction of the “Radisson Hotel & Residences” with a value exceeding SAR 200 million. Furthermore, they announced ‘Thakher Gardens,’ with a value exceeding SAR 2 billion. This project encompasses three hotels and residential towers spanning 11,000 square meters and comprising nearly 400 hotel rooms and over 1,500 hotel residential units.
Future of KSA’s Real Estate
“At Thakher, we believe that the real estate sector in Saudi Arabia is very promising, especially in light of the government vision and initiatives, like the decision to issue Umrah visas in less than 24 hours, which is positively impacting both the real estate and hospitality sectors in Saudi Arabia,” adds Abdulaziz.
This was evident recently as hotel occupancy rates in Makkah surged to nearly total capacity, exemplified by establishments like the Novotel Thakher Makkah Hotel during the Hajj season and Ramadan. This signals a prosperous period for the Kingdom’s construction and hospitality industries.
To Aspiring Developers
The Kingdom’s successful bid to host Expo 2030 aligns with a pivotal year for advancing the objectives outlined in Saudi Vision 2030, showcasing its influential global position. From Abdulaziz’s perspective, this presents an ideal opportunity to channel investments towards the Kingdom and engage in its transformative endeavours.
“We believe that the Kingdom is experiencing substantial economic growth and progress, backed by the unwavering guidance and support of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince and Prime Minister – May Allah protect them,” concludes Abdulaziz.
