Ardara Development Company, a wholly-owned unit of Saudi sovereign wealth fund PIF (Public Investment Fund) has announced that it has signed up top architectural firm OBMI and global partner Parsons for the development of its flagship AlWadi hospitality project.
A transformative mixed-use waterfront development, AlWadi features well-designed residences, thriving commercial, and vibrant retail spaces, along with exhilarating entertainment outlets that aim to attract both locals and tourists year-round.
Ardara (Arabic for Our Land, Our Home), will come up over a sprawling 2.5 million sq m, dedicating more than 30% of the project’s area as green open spaces, with 16 km of waterfront extending across the length of the project, and 17 km of sport trails and cultural activities.
Announcing the contract award, the Saudi PIF unit said the agreement marks a major step forward in Ardara's vision of creating a vibrant destination that blends authenticity with modernity and opens new dimensions of opportunity in the heart of Downtown Abha.
As part of Saudi Arabia’s broader push to diversify its economy through ambitious real estate and tourism projects, Al Wadi will blend modern urban design with elements of the region’s cultural heritage. It aims to energise the economy by creating new job opportunities and stimulating ancillary sectors, said the developer in a statement.
It will help boost the economic, cultural and heritage aspects of the city of Abha and Asir region, it stated.
The partnership with Parsons and OBMI is seen as key to realizing Ardara’s vision of merging authenticity with modernity, elevating the region’s lifestyle and opening up new economic opportunities.
It is expected to contribute to accelerating the pace of work in the Wadi destination, which extends over an area of 2.5 million sq m and provides more than 30% of the project area as open green spaces, 16 km of water destinations extending across the destination, and 17 km of sports tracks, cultural and community activities, it added.
The agrement was signed in the presence of Prince Turki bin Talal, the Governor of Asir Region as well as Chairman of Ardara Development Company.
Speaking on the occasion, Prince Turki said: "This signing is an important strategic step in the journey of the Wadi destination, as this co-operation with global expertise constitutes a step towards achieving a comprehensive vision aimed at developing an integrated and sustainable destination that adds a new dimension to the region."
"The vision for the “Wadi” destination goes beyond mere real estate development; rather, it is a goal to achieve a qualitative transformation for the region, so that it embraces a balanced mix of authenticity and modernity, and that through these strategic partnerships, we do not only seek to build an attractive destination, but create an economic and cultural hub that connects Asir to the world," he added.-TradeArabia News Service
OBMI Design Director Islam El Mashtooly said this project celebrates the region’s heritage while shaping its future by merging cultural authenticity with modern innovation and environmental harmony.
OBMI was awarded the lead design contract for the Wadi project after winning a global competition launched by Ardara this year with special invitations to major architectural design firms known for their prestigious achievements and designs of the most important real estate landmarks on the international level.
"At OBMI, we are passionate about creating places that reflect the stories and spirit of their surroundings, and this exciting development allows us to celebrate the deep richness of Abha’s history for generations to come," said El Mashtooly.
"This is the first phase of the project and includes at its heart a group of distinctive assets and attractive architectural designs for a unique destination, which includes a luxury five-star hotel, another four-star hotel, a comprehensive health center, in addition to modern commercial facilities that will be implemented according to the highest standards," he explained.
"It also includes residential units that express a vibrant lifestyle bearing global brands, public parks located within a field of green spaces, and a walkway on the picturesque waterfront interspersed with various artistic masterpieces, which adds an aesthetic and recreational dimension to the project and enhances the attractiveness of the Wadi destination," he added.
Naif bin Saleh Al Hamdan, Managing Director of Ardara, said these partnerships represent the cornerstone in shaping the features of the 'Wadi' project, which aims to create a vibrant destination in the heart of Abha.
"It also aims to provide solid infrastructure and architectural designs that enhance the attractiveness of the region and highlight its cultural identity, which enhances sustainable investment opportunities in a destination built according to the highest international standards," he added.-TradeArabia News Service