Key insights and market outlook
Indonesia is competing with 90 other bidders for an 80-hectare land in Makkah, Saudi Arabia, to develop a Hajj pilgrims' village through Danantara, a state-owned investment management company. The bidding process is based on the best conceptual proposal rather than the highest bid, as the land price is fixed by the Saudi authorities. Indonesia is bidding for two areas: land only and land with buildings.
Indonesia is currently in a competitive bidding process against 90 other bidders for an 80-hectare land in Makkah, Saudi Arabia, to develop a Hajj pilgrims' village. The project is being managed by Danantara, a state-owned investment management company. The bidding process, characterized by its unique approach, focuses on the best conceptual proposal rather than the highest financial bid, as the land price has been predetermined by the Saudi authorities.
The competition involves two bidding categories: one for land only and another for land with existing buildings. Managing Director of Treasury at Danantara, Ali Setiawan, mentioned that while the exact investment amount hasn't been disclosed, the company is optimistic about securing the project. The selection process is based solely on the quality of the proposed concept, with the price being non-negotiable as set by the Saudi government.
This project is crucial for improving the facilities available to Indonesian Hajj pilgrims. A successful bid would enable Indonesia to develop infrastructure that could enhance the overall pilgrimage experience. The project not only represents a significant investment opportunity but also underscores Indonesia's commitment to serving its religious community.
Danantara is currently awaiting the outcome of the bidding process. With numerous high-profile bidders involved, the competition is intense. The final announcement is expected once the evaluation is complete, and Indonesia remains hopeful about securing the project based on its comprehensive proposal.
Makkah Land Bidding Process
Hajj Pilgrims' Village Development