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flag Indonesia’s state fund buys a Mecca hotel and land for pilgrims, its first overseas move.

flag Danantara, Indonesia’s state-owned investment fund, has acquired a 1,461-room Novotel hotel and 4.4 hectares of land in Thakher City, near Mecca’s Grand Mosque, marking its first overseas venture. flag The deal, aimed at improving accommodations for Indonesian haj and umrah pilgrims, supports a long-term plan to develop up to 5,000 hotel rooms, pending feasibility studies and approvals. flag The project involves a local partner, Al Khomasiah Real Estate Development, and aligns with Saudi Arabia’s Vision 2030 goals. flag Financial terms were not disclosed.

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