ARDARA, Sumou Holding launch 2nd investment in Al Wadi Project worth over SAR 4B

Al Wadi Project will be undertaken via setting up of a closed-ended real estate fund regulated by the CMA

ARDARA, in partnership with Sumou Holding, launched the second investment in the Al Wadi project in Abha, with an investment exceeding SAR 4 billion.

The step came under the patronage of Prince Turki bin Talal bin Abdulaziz, Governor of the Asir Region.

According to a press release, the project will be undertaken through the establishment of a closed-ended real estate investment fund regulated by the Capital Market Authority (CMA).

Located in the heart of the Al Wadi district in Abha, the project includes the development of secondary infrastructure and urban components to create an integrated mixed-use destination featuring residential units, upscale hospitality, retail, entertainment and cultural facilities, as well as public spaces.