White & Case with Thakher on Novotel Thakher Makkah sale to Danantara
White & Case advised Saudi real estate development company Thakher Development Company, on the sale of the Novotel Thakher Makkah hotel towers and 14 adjoining land plots to Danantara Indonesia (Danantara), the sovereign wealth fund of the Republic of Indonesia, for the amount of approximately SAR 2 billion.
The transaction involved a sale to Danantara of the 1,461-room Novotel Thakher Makkah hotel, together with 14 development plots totaling approximately 44,088 square meters within the Thakher Makkah master development.
The White & Case team
The White & Case team which advised on the transaction was led by partner Sami Al-Louzi (Dubai) and associate Khalid AlGublan (Riyadh) and included partners Ian Bevan (Abu Dhabi) and Michael Gabriel (Riyadh) and associates Mayce Khayri, Mishael Alhumaimeedy, Saud Alasheikh and Maria Morris (all Riyadh) and Neha Bassi (Abu Dhabi).
