Abha, May 27, 2025 (29 Dhu al-Qa'dah 1446 AH) — In a pivotal step toward achieving a sustainable urban and tourism vision for Asir region, His Royal Highness Prince Turki bin Talal bin Abdulaziz, Governor of Asir region and Chairman of Aldara, announced the launch of the first modern residential community at "Wadi" destination in the heart of Abha, as part of the second edition of the Asir Investment Forum at King Khalid University's Al-Far'a campus.

The project follows the completion of planning and design phases for the "Wadi" destination, being developed by Aldara — one of the Public Investment Fund's companies — as part of a strategic direction to transform Asir into an integrated residential and tourism destination built on sustainability, innovation and quality of life.

The project's first phase includes a range of residential and tourism facilities, most notably:

  • A 5-star hotel with 180 rooms and 40 hotel apartments.
  • A 4-star hotel with 245 rooms.
  • 42 villas and 62 residential apartments.
  • Retail centers spanning 4,500 square meters.
  • Eco-friendly mobility networks, with walking, jogging and cycling paths.

The forum also saw the signing of several strategic agreements reflecting the growing investment appeal of Asir's projects, most notably:

  • A letter of intent between Aldara and Hilton to bring the global Waldorf Astoria brand to the "Wadi" destination.
  • A memorandum of understanding with Somou Holding worth SAR 1 billion to develop a comprehensive urban master plan.
  • A memorandum with SEDCO Capital to manage another SAR 1 billion investment fund for a mixed-use urban development project.
  • A cooperation memorandum with Southern Cement to supply "green cement" and support afforestation and environmental sustainability initiatives.

Naif Al-Hamdan, Aldara's managing director, explained that the project represents a unique investment opportunity in the heart of Asir region, combining authentic Saudi heritage with modern facilities, affirming that the agreements signed during the forum lay the foundation for an innovative urban future and an attractive investment environment, in line with Saudi Vision 2030 goals of supporting the regional economy, developing sustainable tourism, and improving quality of life.