RIYADH, Saudi Arabia, Oct. 16, 2023 /PRNewswire/ -- His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz, Deputy Prime Minister, and Chairman of the Public Investment Fund (PIF) launched ARDARA to develop its flagship destination "AlWadi" in the Aseer region as its first destination, aiming to be a first of its kind urban lifestyle destination for local and international tourists. AlWadi has been developed in line with the Public Investment Fund's strategy to develop distinctive experiences across the Kingdom, in line with Vision 2030.
The AlWadi destination, spanning 2.5 million square meters, will adopt architectural styles and character inspired by the heritage and unique character of the Aseer region. The destination will adhere to global sustainability standards and champion dynamic lifestyles by dedicating over 30% of the project's area as green and open spaces, offering 16 km of waterfront, 17 km of walking and cycling tracks, as well as cultural activities and community gatherings.
AlWadi will feature five distinct districts, each offering unique experiences, consisting of 2,000 residence options ranging from luxury apartments to modern villas, a selection of high-end hotel accommodations, commercial spaces and high-quality office areas, all developed in harmony with the region's identity and historical legacy.
ARDARA aims to provide numerous investment and partnership opportunities for local and international investors in multiple economic sectors including hospitality, arts, culture, food and agriculture, retail and entertainment.
The launch of ARDARA aligns with PIF's strategy to support promising economic sectors and diversify income in the Kingdom. Its flagship destination AlWadi is set to contribute more than 19 billion Saudi riyals to the Kingdom's non-oil GDP by the year 2030 and will create thousands of jobs for the region's residents. AlWadi also contributes to the objectives of the Aseer Development Strategy, "The Arabian Highland", announced by His Royal Highness the Crown Prince in 2021.
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