Umm Al-Qura for Development and Construction Company, the owner, developer, and operator of Masar Destination, signed a strategic MoU with Indonesia’s Danantara Investment Management to enhance mutual cooperation and explore high-quality investment opportunities in Makkah, reinforcing its development vision and keeping pace with global investment trends.

The MoU was signed by Danantara CIO Pandu Patria Sjahrir and Umm Al-Qura CIO Tariq Sharaf, in the presence of Indonesian Minister of Investment Rosan Roeslani, who attended the event in his capacity as the CEO of Danantara, as well as Umm Al-Qura CEO Yasser Abuateek and several executive leaders from both sides.

The MoU supports the exploration of mutual investment and cooperation opportunities between the two parties.

DIM is Indonesia’s second sovereign wealth fund and a leading investment firm, focusing on developing and managing investments in vital and promising sectors in Asian markets. It possesses extensive experience in institutional investment, project finance, and exploring opportunities related to infrastructure, services, and experience development. Furthermore, it forges strategic international partnerships to support the growth of target markets and enables investors to access long-term opportunities.

As the investment arm of Danantara Indonesia (BPI Danantara), an independent strategic investment management institution operating under the president of Indonesia, DIM plays a key role within the institution’s investment mandate. Danantara Indonesia is mandated to manage and optimize government investments and assets in support of national strategic plans and government programs aimed at accelerating industrialization and economic growth.

Within this institutional framework, DIM is responsible for originating, structuring, and managing long-term strategic investments under a dual mandate: supporting national development objectives while maintaining commercial discipline and long-term value creation.

The signing reflects Umm Al-Qura’s commitment to strengthening partnerships and attracting quality investments. This will lead to the development of the destination, enhance its competitiveness, and empower investors to participate in the future of one of the most important urban projects in the heart of Makkah.