Jakarta, April 23 -- The Danantara Investment Management Agency (BPI) has revealed that it is still awaiting the results of a land tender for the Indonesian Hajj Village project development in Mecca, Saudi Arabia.

Danantara Chief Investment Officer (CIO) Pandu Sjahrir stated that the finalization process has taken longer than expected due to the geopolitical situation in the Middle East region.

"We are waiting for the government there (Saudi Arabia). Actually, we are following up closely. Regarding the lots we have bid on, there should have been news by now, but we are still waiting. We remain in communication," he said during the Fitch Ratings Annual Indonesia Conference here on Thursday.

Regional dynamics have also influenced the pro...