Saudi Crown Prince Unveils ARDARA and AlWadi, the Premier Destination in Abha's Center

Crown Prince Mohammed bin Salman, Deputy Prime Minister and PIF Chairman, introduces ARDARA's AlWadi project in the Aseer region.

This endeavor represents a groundbreaking urban lifestyle destination designed to captivate both local and international tourists, aligning with the Kingdom's Vision 2030 goals.

Spanning a vast expanse of 2.5 million square meters, the AlWadi destination will embody the architectural essence and cultural charm that pay homage to the rich heritage of the Aseer region. It will strictly adhere to global sustainability standards and foster vibrant lifestyles by dedicating over 30% of the area to lush green spaces. This enchanting locale will feature a staggering 16 kilometers of waterfront, along with 17 kilometers of walking and cycling tracks. Cultural events and community gatherings will also grace its offerings.

AlWadi is poised to be divided into five distinctive districts, each promising a unique experience. These districts will encompass 2,000 residence options, ranging from luxurious apartments to contemporary villas, a selection of upscale hotel accommodations, commercial premises, and high-quality office spaces. All of these developments will seamlessly integrate with the region's cultural identity and historical legacy.

ARDARA's vision extends beyond tourism, aiming to offer a plethora of investment opportunities across various economic sectors. Prospective investors, both domestic and international, will find enticing prospects in hospitality, arts, culture, culinary ventures, agriculture, retail, and entertainment.

The launch of ARDARA exemplifies PIF's commitment to bolstering promising economic sectors and diversifying the Kingdom's revenue streams. AlWadi, its flagship destination, is projected to contribute more than 19 billion Saudi riyals to the Kingdom's non-oil GDP by 2030 and is poised to generate numerous employment opportunities for the region's inhabitants. This momentous development also aligns with the objectives of the Aseer Development Strategy, "The Arabian Highland," unveiled by His Royal Highness the Crown Prince in 2021.

The Public Investment Fund (PIF), established in 1971, has evolved to become a key player in supporting commercial projects and investments, both within Saudi Arabia and on the global stage. Under the chairmanship of His Royal Highness Crown Prince Mohammed Bin Salman Bin Abdulaziz, PIF has diversified its portfolio to promote innovation, sector diversification, and the Kingdom's non-oil sector growth.

With a diverse and extensive portfolio, including numerous investments listed on the Saudi Stock Exchange (Tadawul), PIF's strategy centers on achieving attractive long-term financial returns while maintaining a risk-adjusted and diversified investment approach. Their vision extends beyond financial success, aiming to drive Saudi Arabia's economic transformation and play a pivotal role in shaping the future global economy.

Source: hospitalitynet.org