ARDARA Launches First Modern Lifestyle Community At AlWadi Destination In Saudi Arabia's Aseer Region

The first modern lifestyle community at AlWadi has been launched by Prince Turki bin Talal bin Abdulaziz, Aseer Region Governor and ARDARA Chairman. This announcement was made during the second Aseer Investment Forum at King Khalid University in Abha. Developed by ARDARA, a Public Investment Fund (PIF) subsidiary, this project is a significant step in enhancing Aseer Region's national development presence.

ARDARA's commitment to sustainable urban growth and high-quality living is evident in this project. The current phase includes diverse facilities such as a five-star hotel with 180 rooms, a four-star hotel with 245 rooms, 40 luxury branded apartments, and 42 luxury branded villas. Additionally, there are 62 exceptional apartments and premium retail space covering 4,500 square meters.

In line with its dedication to top-tier hospitality, ARDARA has signed a letter of intent with Hilton to manage a Waldorf Astoria hotel within the community. Furthermore, an MoU was signed with Sumou Holding to develop mixed-use urban communities that blend residential, hospitality, and entertainment elements in future phases of AlWadi.

This partnership aims to align with the National Tourism Strategy while focusing on sustainability and smart development principles. With an estimated value of SAR1 billion, it seeks to meet the highest quality of life standards for both residents and visitors.

ARDARA also formed a strategic alliance with SEDCO Capital through an MoU to manage an investment fund worth SAR1 billion. This fund will support the development of an urban project in Abha that integrates residential, hospitality, and entertainment uses. The collaboration aims to bolster economic and tourism growth in the Aseer Region.

Additionally, ARDARA signed an MoU with Southern Province Cement Company to promote sustainable urban development practices. This agreement involves supplying eco-friendly "green cement," collaborating on greening initiatives and community activities, and exchanging technical expertise for lasting environmental and social benefits.

"The launch of our first lifestyle community in AlWadi presents a one-of-a-kind investment opportunity in Aseer," said Naif bin Saleh Al-Hamdan, Managing Director of ARDARA. "It offers exclusive waterfront properties and a thriving community that embraces Saudi heritage and modern amenities."

He further added that the strategic partnerships established bring together innovation, sustainability, and investment value. These align with the Public Investment Fund’s programs and Saudi Vision 2030 objectives.

With inputs from SPA