Adeer sells the Razon Al-Musk hotel towers in Makkah for nearly SAR 600 million
Adeer has added a new achievement to its record with the sale of the Razon Al Musk hotel towers in Makkah for a total of SAR 593,312,500, at the public auction the company held on Wednesday 22 October 2025 at the Laylaty Hall in Jeddah, before a notable turnout of investors and figures from the hospitality and real estate sectors.
The auction drew strong competition for the asset, which occupies a strategic position in the heart of the Al Aziziyah district, close to the Grand Mosque in Makkah and the holy sites, and comprises three luxury hotel towers with a total built-up area of more than 121,000 square metres and 1,602 hotel rooms fitted out to the highest standards of comfort.
The transaction ranks among the most prominent real estate deals in Makkah this year, given the scale of the investment value it represents in supporting the growth of the religious hospitality sector and in meeting the targets of Saudi Vision 2030 for developing infrastructure and the services provided to pilgrims and Umrah performers.
Suleiman Al-Harbi, Deputy Chief Executive Officer of Adeer, welcomed the outcome of the auction, saying: "We value this result, which reflects investor confidence in the opportunities Adeer brings to market and confirms the exceptional standing of Makkah as a promising investment destination in the hospitality sector. Selling the Razon Al Musk towers at this scale and value confirms that we are moving steadily towards delivering distinctive projects that match investor expectations and support national development."
Al-Harbi added: "At Adeer we are committed to making our auctions a genuine platform for leading investment opportunities that combine value, location and return, and that contribute to urban and economic activity across the Kingdom's cities."
The success of the Razon Al Musk auction adds to the series of results Adeer has achieved in organising distinctive real estate auctions, reflecting the company's expertise in managing and marketing prime real estate assets and reinforcing its leading role in supporting the Saudi real estate market and stimulating quality investment in the holy cities.
