The Crown Prince, Prime Minister, and Chairman of the Public Investment Fund (PIF) Mohammed bin Salman unveiled the launch of Ardara Company, signaling a significant step towards the development of the groundbreaking ‘AlWadi’ project nestled in the heart of Abha, within the enchanting southern Asir region.
Set to become a bustling urban hub and an alluring tourist hotspot for both local and global visitors, the AlWadi marks Ardara’s inaugural venture in line with the transformative objectives of the Saudi Vision 2030.
The strategic introduction of Ardara aligns seamlessly with PIF’s overarching mission to unlock the potential of key sectors, particularly tourism and entertainment, ultimately contributing to the vital diversification of the Kingdom’s economy. Anticipated to generate a substantial non-oil GDP contribution of over SR19 billion by 2030, the flagship AlWadi destination is expected to create numerous employment opportunities for the region’s populace. Furthermore, it will play a pivotal role in realizing the ambitions of the Aseer Development Strategy, famously dubbed “Arabian Highland,” a visionary initiative previously announced by the Crown Prince in 2021.
Encompassing a sprawling expanse of 2.5 million square meters, AlWadi is set to epitomize sustainability in its core design. Elevating the standard of living, the project is committed to allocating more than 30 percent of its area to lush green open spaces, encompassing over 16 kilometers of waterfront, 17 kilometers of sports trails, and an array of cultural and community-centered activities.
The grandeur of AlWadi will be manifested through its five distinct districts, each offering a unique array of experiences. Phase one of the project, slated for completion within the next three years, will introduce 2,000 contemporary upscale apartments and villas, luxury hotels, as well as commercial and business spaces, all meticulously crafted to adhere to the highest global standards while honoring the essence and history of the region.
Ardara Co. aims to foster a fertile environment for local and international investors, inviting partnerships across an array of sectors including hospitality, arts, culture, food and agriculture, as well as retail and entertainment, fostering robust collaborations with the private sector.
Notably, the Crown Prince’s 2021 unveiling of the Aseer Development Project, an ambitious $13 billion endeavor, envisioned the transformation of the picturesque mountainous region into a global tourism hub, targeting a visitor influx of over 10 million by 2030. The ‘Arabian Highland’ project seeks to elevate the mountainous Aseer region into a year-round, nature-centric cultural destination of global allure.
