ARDARA unveils 1st residential community in Al Wadi, signs agreements at Aseer Forum

Prince Turki bin Talal bin Abdulaziz, Governor of the Aseer Region and ARDARA’s Chairman, fully owned by the Public Investment Fund (PIF), announced today the launch of the first modern residential community in Al Wadi, the heart of Abha.

At the second edition of the Aseer Investment Forum held in Abha, ARDARA’s Chairman stated that the launch marks the completion of design and planning phases for the first mixed-use residential community.

It represents a pivotal step toward developing an integrated residential and tourism destination that will enhance Aseer’s position on the tourism and development map.

According to the Saudi Press Agency (SPA), the current phase of the project includes a variety of facilities, featuring a five-star hotel with approximately 180 rooms, around 40 hotel apartments, 42 villas, and 62 residential apartments.

It also comprises commercial centers covering about 4,500 square meters, alongside a four-star hotel with roughly 245 rooms, and comprehensive public amenities such as walking, jogging, and cycling paths, as well as alternative environmentally friendly transportation options.

The forum witnessed the signing of a letter of intent (LoI) between ARDARA and Hilton to bring the Waldorf Astoria brand to the project, reflecting ARDARA’s commitment to applying the highest global hospitality standards in Al Wadi.

ARDARA also signed a memorandum of understanding (MoU) with Sumou Holding valued at SAR 1 billion to develop a comprehensive urban concept for a mixed-use residential community in Al Wadi.

Additionally, ARDARA signed a MoU with SEDCO Capital to manage an investment fund worth SAR 1 billion aimed at developing an urban project in Abha that combines residential, hospitality, and entertainment uses, supporting both parties' efforts to foster economic and tourism development in Aseer.

The PIF’s subsidiary inked an MoU with Southern Province Cement Co. (SPCC) to support sustainability practices in urban development projects through the supply of green cement and collaboration in afforestation initiatives and community events.

In October 2023, Crown Prince Mohammed bin Salman launched ARDARA with the aim of developing the Wadi Abha project (Al Wadi) in the Aseer region, intended to become an urban hub and attractive tourist destination for both local and international visitors, aligning with Saudi Vision 2030’s objectives, Argaam earlier reported.