Ardara Company launched with the aim of developing the Al-Wadi project in the heart of Abha

Mohammed bin Salman, the Crown Prince, the Prime Minister, and the Chairman of the Public Investment Fund (PIF), announced on Monday the establishment of Ardara Company, whose mission is to build the "Al-Wadi" project in the southern Asir area of Abha. In keeping with Saudi Vision 2030, the company's initial project, the AlWadi, aims to be a thriving urban hub and a popular tourism attraction for both domestic and foreign travellers.

The introduction of Ardara fits in with PIF's plan to diversify the Kingdom's economy and unleash the potential of emerging industries like entertainment and tourism. By 2030, the AlWadi flagship destination is expected to provide thousands of employment for the local populace and contribute more than SR19 billion to the nation's non-oil GDP. Additionally, it will help achieve the goals of the Aseer Development Strategy, commonly known as "Arabian Highland," which the Crown Prince declared in 2021.

The development of the 2.5 million square metre AlWadi, often known as "the valley," would prioritise sustainability. With over 30 percent of the project's land set aside for green open spaces, over 16 km of waterfront, 17 km of sport trails, and a host of cultural and community events, it will improve people's quality of life.

Phase one of the project will give a variety of residential, hospitality, and recreational options in five separate districts, each delivering a distinctive experience. Phase two of the project is scheduled to be completed within the next three years. There will be 2,000 residential alternatives available, including contemporary high-end apartments and villas, five-star hotels, and commercial and corporate spaces that are all planned to meet the highest international standards while also paying homage to the history and personality of the area.

In order to fortify its relationship with the private sector, Ardara Co. seeks to offer investment and partnership possibilities to both domestic and foreign businesses in a variety of industries, such as retail and entertainment, hotel, arts, culture, cuisine, and agriculture.

Notably, the Crown Prince announced the Aseer Development Project in 2021 with the goal of turning the scenic mountain area into a tourist attraction. With almost 10 million tourists expected by 2030, the $13 billion project intends to turn the hilly Aseer area into a major worldwide travel hub. The "Arabian Highland" initiative aims to develop nature- and culture-focused tourism attractions at the top of the mountains, making the area a year-round travel destination.