Latest news with #ARDARA
Arabian Business
4 days ago
- Business
- Arabian Business
Saudi real estate: ARDARA to launch lifestyle community in Al Wadi with luxury hotels and homes
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.'
Leaders
4 days ago
- Business
- Leaders
ARDARA Launches First-Ever Lifestyle Community at AlWadi Destination
Prince Turki bin Talal bin Abdulaziz, Governor of Aseer Region and Chairman of ARDARA, officially announced the launch of ARDARA's first modern lifestyle community at AlWadi. The announcement took place during the second Aseer Investment Forum, held at King Khalid University in Abha, and included new details about this landmark destination. ARDARA, fully owned by the Public Investment Fund (PIF), is leading the development. This milestone project highlights ARDARA's mission to create integrated residential and tourism destinations that elevate the Aseer Region's profile within the national development framework. It reflects the company's strong commitment to sustainable urban planning and enhancing quality of life. The initial phase of the project includes a diverse range of offerings: A five-star hotel with approximately 180 rooms A four-star hotel featuring around 245 rooms 40 luxury branded apartments and 42 luxury branded villas 62 premium apartments 4,500 square meters of high-end retail space Public amenities such as walking and cycling paths, and environmentally friendly mobility solutions In pursuit of world-class hospitality standards, ARDARA has signed a letter of intent with Hilton to operate a Waldorf Astoria hotel within the development. Further expanding its vision, ARDARA signed a memorandum of understanding (MoU) with Sumou Holding to develop future phases of AlWadi. These will include mixed-use urban communities that integrate residential, hospitality, and entertainment elements—aligned with the National Tourism Strategy and grounded in principles of sustainability and smart urban development. The potential value of this partnership stands at SAR 1 billion. ARDARA, SEDCO ARDARA also entered a strategic MoU with SEDCO Capital to manage an investment fund worth SAR 1 billion for the development of an urban project in Abha. Additionally, the initiative aims to blend residential, hospitality, and entertainment components to drive economic and tourism growth in the Aseer Region. Furthermore, ARDARA signed an MoU with Southern Province Cement Company to promote sustainable urban development practices. The agreement covers the supply of eco-friendly 'green cement,' joint greening and community initiatives, and technical knowledge sharing—contributing to both environmental sustainability and construction excellence across the region. 'The launch of our first lifestyle community in AlWadi represents a unique investment opportunity in Aseer,' said Naif bin Saleh Al-Hamdan, Managing Director of ARDARA. 'It offers exclusive waterfront properties and a vibrant community that honors Saudi heritage while embracing modern living. Finally, the strategic partnerships we announced today underscore our commitment to innovation, sustainability, and investment value—fully aligned with the Public Investment Fund's initiatives and Saudi Vision 2030.' Related Topics: IARDA Licenses 40 Tour Guides Culture Ministry Launches Saudi-Chinese Cultural Year 2025 Riyadh Art Completes Installation of Davide Rivalta Sculptures 'The Neighbors of the Moon': an Ideal Tourist Destination in Jizan Short link : Post Views: 21
Asharq Al-Awsat
4 days ago
- Business
- Asharq Al-Awsat
ARDARA Unveils Details of First Lifestyle Community at AlWadi in Saudi Arabia
Aseer Region Governor and ARDARA Chairman Prince Turki bin Talal bin Abdulaziz officially announced on Tuesday the launch of the first modern lifestyle community at AlWadi. The announcement was made at the second Aseer Investment Forum in Abha. The new community is a key milestone in ARDARA's mission to develop integrated residential and tourism destinations that boosts the Aseer Region's prominence on the national development landscape. The project underscores the dedication of ARDARA, which is wholly owned by the Public Investment Fund (PIF), 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 4,500 square meters, and public amenities including walking and cycling paths, and 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 SAR1 billion, 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 SAR1 billion aimed at developing an urban project in Abha. The project will integrate residential, hospitality, and entertainment uses, as part of both parties' efforts to support economic and tourism development in the Aseer Region. In addition, ARDARA signed an MoU with Southern Province Cement Company to promote sustainable practices in urban development. 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. 'The launch of our first lifestyle community in AlWadi 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,' said Managing Director of ARDARA Naif bin Saleh Al-Hamdan. '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,' he stressed.
