HRH Crown Prince launches “Ardara” with development of “AlWadi” in Abha as flagship project
Riyadh, KSA – 16 October 2023
- Ardara will develop the AlWadi district of Abha, in the Aseer region of Saudi Arabia, as a vibrant urban center and tourist destination for both local and international visitors
- The company will create diverse opportunities for local and international investors in several sectors, build partnerships with the private sector, and create job opportunities for the local community.
Riyadh, 16 October 2023: His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, Chairman of the Public Investment Fund (PIF), announced today the launch of “Ardara,” which will develop AlWadi in Aseer Region in the southwest of Saudi Arabia, which will be the company’s first development and will become a vibrant urban center and tourist destination for both local and international visitors, in line with Vision 2030.
Inspired by the distinctive Aseer architectural style and rich historical heritage, AlWadi – meaning “the valley”– will span 2.5 million square meters and be developed with sustainability at its core. It will enhance the quality of life by dedicating over 30% of the project’s area as green open spaces, with over 16 km of waterfront extending across the length of the project and 17 km of sports trails and cultural and community activities.
AlWadi will feature five distinct districts offering unique experiences, with a range of residential, hospitality, and recreation options to be provided in phase one of the project over the next three years. This will include 2,000 residential options in modern high-end apartments and villas, luxury hotels, commercial spaces, and business spaces designed by the highest international standards and harmoniously with the region’s identity and history.
Ardara aims to provide investment and partnership opportunities for local and international investors across various sectors, including hospitality, arts, culture, food, agriculture, retail, and entertainment, to further strengthen the partnership with the private sector.
The launch of Ardara aligns with PIF’s strategy to unlock the capabilities of promising sectors, including tourism and entertainment, and diversify the economy of Saudi Arabia.
“The AlWadi flagship destination is set to contribute more than SAR 19 billion to the country’s non-oil GDP by 2030, creating thousands of jobs for the region’s local communities. It will contribute to the objectives of the Aseer Development Strategy,” Arabian Highland,” announced by His Royal Highness the Crown Prince in 2021.”The AlWadi flagship destination is set to contribute more than SAR 19 billion to the country’s non-oil GDP by 2030, creating thousands of jobs for the region’s local communities. It will contribute to the objectives of the Aseer Development Strategy, “Arabian Highland,” announced by His Royal Highness the Crown Prince in 2021.
