Danantara Said to Lodge $1 Billion Offer for Land at Mecca Site
The building housing Danantara in Jakarta.
Indonesia’s Danantara has bid $1 billion for a large plot of land near the Grand Mosque in Mecca, according to people familiar with the matter, as the sovereign wealth fund looks to develop a huge site with hotels to serve Hajj pilgrims from the Southeast Asian nation.
Should Danantara be successful with its offer, the purchase would mark the fund’s first overseas investment, the people said, asking not to be identified discussing information that’s private.