How Thakher Development Company aims to support Saudi Arabia's tourism goals How Thakher Development Company aims to support Saudi Arabia's tourism goals
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How Thakher Development Company aims to support Saudi Arabia’s tourism goals

How Thakher Development Company aims to support Saudi Arabia’s tourism goals

Engineer Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Company shares how it is supporting Vision 2030, its key milestones and the company’s future plans

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Eng. Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Company photograph (1)

Tell us about the Thakher Makkah project and its different phases. What are its key features and how is it contributing to the economy?
Thakher Makkah is one of the largest real estate projects in Saudi Arabia, developed by the Thakher Development Company.

The company aims to contribute to the sustainable development of the holy city of Makkah and to become the preferred destination for visitors. The first phase of the Thakher Makkah project is almost complete, while the second phase is expected to be delivered in 2024, with more phases to follow.

Thakher Makkah hosts pilgrims close to the Holy Mosque, with an approximate distance of one kilometre, providing various options and opportunities for visitors and investors. Spanning over an area of 320,000 square metres, the project’s various facilities make it one of the most comprehensive real estate initiatives in the city.

In close proximity to the Holy Mosque and a few kilometres away from the holy sites of Mina, Muzdalifah and Arafat, the project’s connections to the most important highways enable investors and visitors to reach the Holy Mosque within an hour from King Abdulaziz International Airport in Jeddah.

Tell us about your journey as the CEO of Thakher Development Company and the key milestones of the company.
I joined Thakher Development Company in 2014, which was formed out of a unique vision to create a project in Makkah that would become a benchmark in the sector.

Having worked in different industry sectors, and always eager to learn and succeed, I embraced the challenge and spent seven years leading the project while honing my knowledge of the local real estate sector. One of the company’s key milestones and perhaps my biggest challenge, was during the Covid-19 pandemic. However, the company survived the crisis gracefully, with no effects on the quality of work. We also limited the delays caused by pandemic and resulting [mobility] restrictions.

How is the company supporting Saudi Arabia’s Vision 2030?
The company estimates that upon the completion of all its development phases, the project will host more than 1.6 million visitors and pilgrims, underpinning the objectives of Vision 2030 to host 30 million Umrah performers and six million pilgrims by 2030. This will be achieved through its expansive landscape, variety of hospitality options (hotels, residential, commercial) and typical urban plan.

How is the company giving back to the community?
In collaboration with the Ministry of Health in Saudi Arabia, we organised a blood donation event in the kingdom earlier this year, as part of the company’s corporate social responsibility programme.

We are also committed to participating in all voluntary and humanitarian activities in Saudi Arabia, which aim to consolidate the values ​​of social solidarity and to spread awareness about the health benefits of donating blood. While business is important, human lives are of the ultimate importance.

The Thakher Makkah project aims to help raise the level of accommodation services in Makkah and create employment opportunities for its residents, by providing 15,000 direct and 18,000 indirect jobs. The project itself exceeds SAR26bn in total value, and will create an area of entertainment, shopping and children’s playgrounds, through open spaces and plazas. This would cater to cultural, art and entertainment activities that help enhance the overall quality of life.

What are some of the company’s plans in the near future?
Our main objective now is focused on the completion of the second phase of the project by 2024. The business success is measured by our commitment in delivering the project according to the set timelines and by providing high-quality services and opportunities to investors and visitors.

Additionally, the company will lead and manage the development of Al Kidawh project as a master developer. This is in addition to the partnerships we have established with several finance entities, such as BIDAYA Home Finance and Saudi British Bank (SABB) to provide the best services and products to our customers.

For more details on the company, click here.

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