The Aseer Region Development Authority, in partnership with the Federation of Saudi Chambers, announced today awarding an investment consortium comprised of a group of businessmen the project to develop the Abha Valley, one of the initiatives of Ardara Company, which is owned by the Public Investment Fund (PIF).
The investment value of the project exceeds SAR 1 billion, state-run news agency SPA reported.
The project is the first of Ardara’s initiatives, announced in October 2022 along the Abha Valley, aiming to revive life along its banks.
The project includes the development of five main zones: the Lake, Al-Muftaha, Al-Bihar, Al-Bustan, and Al-Jadwal, spanning an area of 2.5 million square meters.
These areas are divided into 22 subzones, featuring 16 water destinations, 17 sports trails, and 16 hotels with a total of more than 2,000 hotel units. The project also comprises commercial complexes, office spaces, dining areas, and cafés, in addition to reviving the historic Al-Bihar area.
The project is set to be one of the main gathering hubs during the 2034 FIFA World Cup.
The Aseer Region Development Authority, in partnership with the Federation of Saudi Chambers, announced today awarding an investment consortium comprised of a group of businessmen the project to develop the Abha Valley, one of the initiatives of Ardara Company, which is owned by the Public Investment Fund (PIF).
The investment value of the project exceeds SAR 1 billion, state-run news agency SPA reported.
The project is the first of Ardara’s initiatives, announced in October 2022 along the Abha Valley, aiming to revive life along its banks.
The project includes the development of five main zones: the Lake, Al-Muftaha, Al-Bihar, Al-Bustan, and Al-Jadwal, spanning an area of 2.5 million square meters.
These areas are divided into 22 subzones, featuring 16 water destinations, 17 sports trails, and 16 hotels with a total of more than 2,000 hotel units. The project also comprises commercial complexes, office spaces, dining areas, and cafés, in addition to reviving the historic Al-Bihar area.
The project is set to be one of the main gathering hubs during the 2034 FIFA World Cup.
