Awqaf Investment and TAIBA Officially Inaugurate “Makarem Burj Al Madinah Hotel & Suites” in the Heart of Madinah

Manal Saleh

       A Leading Model of Partnership Between the Endowment and Private Sectors

Awqaf Investment, the investment arm of the General Authority for Awqaf, and TAIBA, a leading firm in the hospitality and real estate sectors listed on the Saudi Stock Exchange (Tadawul), announced the official inauguration of Makarem Burj Al Madinah Hotel & Suites, in a ceremony attended by His Excellency Mr. Imad Al-Kharashi, Governor of the General Authority for Awqaf, along with several senior officials from both the public and private sectors, investors, industry leaders, and board members of both companies.

Makarem Burj Al Madinah Hotel & Suites represents the culmination of a strategic partnership between Awqaf Investments and TAIBA, under which a special purpose vehicle was established to develop and operate a five-star hotel in the central area under the Saudi hospitality brand Makarem, in a collaboration built on complementary roles, with Awqaf Investment providing the endowed assets and a sustainable investment framework, while TAIBA contributes its deep expertise in hotel development and operations, as well as in serving visitors to the two holy cities.

Makarem Burj Al Madinah Hotel & Suites embodies a pioneering model for maximizing the developmental impact of endowments by delivering a high-quality hospitality product that meets growing demand, enhancing the contribution of the endowment sector, supporting sustainable economic development, elevating the experience of pilgrims and visitors, and strengthening Madinah’s hospitality offering.

In his speech at the inauguration ceremony, Mr. Abdulaziz Altubayyeb, CEO of Awqaf Investment, stated, “This project is the fruit of a strategic partnership between Awqaf Investments and TAIBA. Our partnership is built on a unique model that embodies the integration between the endowment and private sectors, demonstrating what professional investment management of endowments can achieve when combined with experienced and professional partners, working together according to a clear shared vision.”

Altubayyeb explained that the project reflects the growing role of endowment investment in supporting development and offers a qualitative addition to the hospitality sector in Madinah through a hotel product that contributes to enriching the guest experience, serving the pilgrims and visitors, and enhancing the quality of services provided in the vicinity of the Prophet’s Mosque.

Altubayyeb noted Awqaf Investment ‘s ongoing commitment to unlocking the potential of the endowment sector and directing it towards value-added projects. Makarem Burj Al Madinah Hotel & Suites serves as a practical example of our efforts to develop endowment investments in line with the best investment standards, thereby enhancing the sector’s economic and development returns.

In parallel, Sultan Alotaibi, CEO of TAIBA, said in his speech at the opening ceremony: “The inauguration of Makarem Burj Al Madinah Hotel & Suites marks a significant milestone in reinforcing TAIBA’s position as the leading company in the Saudi hospitality sector, reflecting our vision of developing Saudi hotel brands that elevate the hospitality experience for visitors, Umrah performers, and tourists, in line with our Forward Hospitality concept, which blends authentic Saudi hospitality with global standards.”

Alotaibi affirmed that the new hotel represents a major addition to Madinah’s hospitality ecosystem, directly supporting Saudi Vision 2030 by enhancing religious tourism, upgrading hotel infrastructure and quality, and reinforcing Madinah’s status as a global destination.

He also expressed TAIBA’s appreciation for the support of His Royal Highness the Governor of Madinah Province and the Governor of the Madinah Development Authority in delivering the project to the highest international standards, commending the contributions of all government entities and partners involved, and reaffirming TAIBA’s commitment to delivering hospitality destinations and experiences that reflect the Kingdom’s global position and meet the aspirations of pilgrims and visitors.

Makarem Burj Al Madinah Hotel & Suites enjoys a prime location in the northern central area, just steps away from Al-Masjid Al-Nabawi, making it an ideal destination for pilgrims and visitors seeking comfort and luxury in a unique experience that blends spirituality and sophistication.

The five-star hotel features 374 rooms and suites designed to the highest standards, including distinctive duplex suites spanning two floors, offering panoramic views and enhanced privacy, as well as four diverse international dining options, along with comprehensive facilities catering to families, business travelers, and pilgrims alike.

The hotel includes 75 parking spaces, spans 15 floors, and is equipped with dedicated guest and service elevators, alongside exceptional amenities that reflect the highest standards of comfort and luxury.

The official inauguration of Makarem Burj Al Madinah Hotel & Suites comes within the framework of strategic partnerships aimed at achieving the objectives of Saudi Vision 2030, particularly the pilgrim experience, by increasing hotel capacity and delivering high-quality hospitality offerings befitting the Kingdom’s position as the heart of the Islamic world, while supporting sustainable economic development within the non-profit sector.