Rotana is pleased to announce that we have signed an agreement with Zawaya Properties Company, a Saudi real estate developer with more than a decade of experience delivering commercial, residential and mixed-use projects across the Kingdom, to develop The Residences by Rotana at Thakher, a SAR 26 billion mixed-use destination located 1.5 kilometres from the Grand Mosque in Makkah.
The signing marks The Residences by Rotana’s first entry into Saudi Arabia and Rotana’s debut in the Kingdom’s branded residences segment, extending the group’s Saudi Arabia portfolio in operation and under development to 24 properties across five brands.
Saudi Arabia’s branded residences segment is one of the fastest-growing real estate categories in the region, driven by rising domestic wealth and growing international demand. According to Knight Frank’s Destination Saudi 2026 report, USD 3.4 billion in private global capital is ready to be deployed into the sector, with investor interest particularly concentrated in Makkah and Madinah.
The agreement was signed at Zawaya Properties offices in Riyadh, on 7 July 2026, by Makram El Zyr, Corporate Vice President, Development, Rotana, and Khaled Qurashi, Head of Advisory & Investments, Zawaya Properties Company, in the presence of Zawaya Properties CEO, Mohamad Al Thagafi.
The upscale development will comprise 240 fully serviced hotel apartments within Thakher, bringing The Residences by Rotana’s hallmark blend of residential comfort and hotel-standard service to one of the most visited and highest-demand destinations in the world.
Designed for long-stay residents, business visitors, pilgrims and year-round travellers, the property responds to demand in the Holy City for quality branded hospitality beyond a standard hotel stay.
Makkah sits at the heart of Saudi Arabia’s hospitality growth story. As part of Vision 2030, the Kingdom is targeting 30 million Umrah performers and 6 million Hajj pilgrims annually by 2030, with the government committing to deliver 250,000 additional hotel rooms across the Holy Cities to meet that demand. Thakher is a central part of that ambition: the SAR 26 billion development spans 320,000 sq m one kilometre from the Grand Mosque, designed to accommodate more than 1.6 million visitors and pilgrims on completion, and has already recorded full occupancy during the Hajj season for two consecutive years. More
By HospotalityNet
