Mohammed bin Salman, the Crown Prince, Chairman of the Council of Ministers, and Chairman of the Public Investment Fund, announced the company “ARDARA” launch to develop the “Abha Valley” project in the Asir region, Invest-Gate reports.

The company’s projects will establish an urban center and an attractive tourist destination for both local and international visitors, in line with the goals of Saudi Vision 2030.

Moreover, the “Abha Valley” project, spanning an area of 2.5 mn sqm, will incorporate architectural and urban designs inspired by the rich heritage and history of the Asir region. The project will prioritize sustainability standards and enhance the quality of life by providing over 30% of the project area as open green spaces, 16 km of water features, 17 km of sports tracks, and cultural and community activities.

Additionally, ARDARA will develop five distinct main areas, with the first phase over the next three years offering a range of housing, hospitality, and entertainment options, including a thousand diverse residential choices between apartments, luxurious and modern villas, as well as luxury hotels, commercial spaces, and meticulously designed business areas that align with the region’s identity and historical heritage.

Furthermore, ARDARA aims to provide numerous opportunities for local and international investors in various sectors, including hospitality, arts, culture, food and agriculture, retail, and entertainment, fostering partnerships with the private sector.

The launch of the company “ARDARA” aligns with the strategy of the Public Investment Fund, which aims to unleash the potential of promising sectors in the KSA, including tourism and entertainment, and enhance the Kingdom’s efforts to diversify its sources of income.

Notably, the project will support non-oil GDP with over 19 bn Saudi riyals by 2030 and create thousands of jobs for the region’s residents by 2030.