Crown Prince launches Ardara to develop AlWadi in Abha

Prince Mohammed bin Salman, Crown Prince, Prime Minister, and Chairman of the Public Investment Fund (PIF), announced today,Oct. 16, the launch of Ardara Company, which will develop AlWadi in Aseer Region, located in the southwest of Saudi Arabia.

This will be the company’s first development and will become a vibrant urban center and tourist destination for both local and international visitors, in line with Vision 2030.

Spanning an area of 2.5 million square meters, AlWadi is inspired by the distinctive Aseer architectural style and rich historic heritage. It will be developed with sustainability at its core. AlWadi will enhance quality of life by dedicating over 30% of the project's area as green open spaces, with over 16 km of waterfront extending across the length of the project, and 17 kilometers of sport trails, as well as cultural and community activities.

Ardara will develop five distinct districts offering unique experiences. This will include 2,000 residential options in the form of modern high-end apartments and villas, luxury hotels, commercial spaces and business spaces designed in

accordance with the highest international standards and in harmony with the region's identity and history.

Ardara aims to provide investment and partnership opportunities for local and international investors across a range of sectors including hospitality, arts, culture, food and agriculture, as well as retail and entertainment, to further strengthen the partnership with the private sector.

The launch of Ardara aligns with the PIF’s strategy to unlock the capabilities of promising sectors, including tourism and entertainment, and diversify the economy of Saudi Arabia.

AlWadi is set to contribute more than SAR19 billion to the Kingdom’s non-oil GDP by 2030, creating thousands of jobs for the region's local communities. It will contribute to the objectives of the Aseer Development Strategy; “Arabian Highland” announced by the Crown Prince in 2021.