ARDARA, a company wholly owned by the Public Investment Fund (PIF), has unveiled the first modern lifestyle community at AlWadi, the first of its first-of-its-kind urban lifestyle destination.
The launch was announced during the second Aseer Investment Forum, held at King Khalid University in Abha.
The new community represents a key milestone in ARDARA’s mission to develop integrated residential and tourism destinations that enhance the Aseer Region’s prominence on the national development landscape. The project underscores ARDARA’s dedication to sustainable urban development and delivering a superior quality of life.
The current project phase includes a range of diverse facilities, including, a five-star hotel with approximately 180 rooms, a four-star hotel with around 245 rooms, 40 luxury branded apartments, 42 luxury branded villas, 62 exceptional apartments, premium retail space spanning 4,500 square meters, and public amenities including walking and cycling paths, and environmentally friendly mobility solutions.
In line with its commitment to world-class hospitality, ARDARA signed a letter of intent with Hilton to operate a Waldorf Astoria hotel within the destination.
Naif bin Saleh Al-Hamdan MD – ARDARA
“The launch of our first lifestyle community in AlWadi presents a one-of-a-kind investment opportunity in Aseer, offering exclusive waterfront properties and a thriving community that embraces Saudi heritage and modern amenities. Additionally, the significant strategic partnerships we signed bring together innovation, sustainability, and investment value, aligning with the Public Investment Fund’s programs and the objectives of Saudi Vision 2030.”
Additionally, ARDARA signed a memorandum of understanding (MoU) with Sumou Holding to develop mixed-use urban communities combining residential, hospitality, and entertainment components in upcoming phases of AlWadi, in line with the National Tourism Strategy and grounded in principles of sustainability and smart development.
With a potential value of SAR 1 billion ($266 million), the partnership aspires to achieve the highest standards of quality of life, meeting the needs of both residents and visitors.
In a strategic collaboration, ARDARA and SEDCO Capital signed an MoU to manage an investment fund worth SAR 1 billion ($266 million) aimed at developing an urban project in Abha.
Image Via: SPA | Cropped by GBN
The project will integrate residential, hospitality, and entertainment uses, as part of both parties’ efforts to support economic and tourism development in the Aseer Region.
In addition, ARDARA signed an MoU with Southern Province Cement Company to promote sustainable practices in urban development. The agreement includes the supply of eco-friendly “green cement,” collaboration on greening initiatives and community activities, and the exchange of technical expertise, contributing to a lasting environmental and social impact that enhances the quality of construction and development across the region.
