Riyadh, Saudi Arabia — Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud Monday announced the launch of Ardara, which will develop AlWadi in Aseer Region in the southwest of the kingdom.
This will be Ardara’s first development and will become a vibrant urban center and tourist destination for both local and international visitors, in line with Vision 2030, Saudi Arabia’s Sovereign Wealth Fund, PIF, said in a statement.
Inspired by the distinctive Aseer architectural style and rich historic heritage, AlWadi – meaning, the valley – will span 2.5 million square meters and will be developed with sustainability at its core.
It will enhance quality of life by dedicating over 30 percent of the project’s area as green open spaces, with over 16 km of waterfront extending across the length of the project, and 17 km of sport trails, as well as cultural and community activities, PIF said.
AlWadi will feature five distinct districts offering unique experiences, with a range of residential, hospitality and recreation options to be provided with phase one of the project over the next three years.
This will include 2,000 residential options in the form of modern high-end apartments and villas, luxury hotels, commercial spaces and business spaces.
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.
PIF said AlWadi flagship destination is set to contribute more than SAR 19 billion to the country’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.