The Saudi real estate and hospitality sectors will be further enhanced by the launch of a new luxury community in Al Wadi, Aseer.
Aseer Region Governor and ARDARA Chairman Prince Turki bin Talal bin Abdulaziz officially announced the launch of the first modern lifestyle community at Al Wadi.
The announcement unveiled further details about this distinctive destination developed by ARDARA, a company wholly owned by the Public Investment Fund (PIF), during the second Aseer Investment Forum, held at King Khalid University in Abha.
ARDARA Saudi real estate development
The new community represents a key milestone in ARDARA’s mission to develop integrated residential and tourism destinations that enhance 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 4,500sq m
- Public amenities including walking and cycling paths
- 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.
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 SR1bn ($267m), 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 SR1bn ($267m) aimed at developing an urban project in Abha.
In addition, ARDARA signed an MoU with Southern Province Cement Company to promote sustainable practices in urban development in Saudi Arabia. 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.
Managing Director of ARDARA Naif bin Saleh Al-Hamdan said: “The launch of our first lifestyle community in Al Wadi 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 today bring together innovation, sustainability, and investment value, aligning with the Public Investment Fund’s programs and the objectives of Saudi Vision 2030.”
