Ardara, Sumou Holding announce second investment in Abha’s Al-Wadi project

Under the patronage of Turki bin Talal bin Abdulaziz, Governor of Asir Region and Chairman of Ardara Development, Ardara, in partnership with Sumou Holding, has launched a second investment in the Al-Wadi project in Abha. The investment exceeds 4 billion riyals (SAR), reflecting the 'Qimam wa Shem' vision rooted in local identity and aiming to restore Al-Wadi’s status as a cradle of life.

The project involves the establishment of a closed-end real estate investment fund regulated by the Capital Market Authority, under an agreement that defines the partnership between the two companies. This paves the way for development work to begin within a comprehensive investment and regulatory framework, turning vision into tangible impact and investment into sustainable value.

The agreements were signed by Naif bin Saleh Al-Hamdan, Managing Director of Ardara, and Abdullah bin Mohammed Al-Qahtani, Chief Executive Officer for Business Development at Sumou Holding, marking the start of the implementation phase for the second investment in the Al-Wadi project.

This initiative goes beyond urban development; it represents a national alliance committed to the belief that lasting progress begins with honoring local identity. Located in the heart of Abha’s Al-Wadi district, the project will feature secondary infrastructure and urban components built to the highest standards, creating an integrated urban destination with residential units, upscale hospitality, commercial, entertainment, and cultural facilities, public spaces, and experiences that celebrate Asir’s heritage and secure a future worthy of its history.

The Al-Wadi project, developed by Ardara, spans approximately 2.5 million square meters, with nearly 2 million square meters of development area. It is set to become one of the region’s most prominent urban destinations and a key milestone in Abha’s urban and tourism transformation.

The partnership aligns with the objectives of the Asir Development Strategy 'Qimam wa Shem' and Saudi Vision 2030, by boosting the region’s investment appeal, diversifying economic opportunities, and enhancing quality of life.

Ardara, wholly owned by the Public Investment Fund and the main developer of the Al-Wadi project, is a leader in creating sustainable urban destinations that reflect local identity and heritage, offering opportunities for both local and international investors. Sumou Holding brings extensive expertise in developing and managing mixed-use real estate, investment, and tourism projects, contributing to initiatives that create lasting impact and a developmental legacy for future generations.

Returning to one’s roots ensures continuity. In Al-Wadi, investment begins not with construction, but with reviving the meaning of place, leaving a lasting imprint on people, urban life, and the future.