Saudi Arabia's Ardara, a company backed by the sovereign wealth vehicle, the Public Investment Fund (PIF), has started the construction work on its Alwadi project in the kingdom's southwestern Abha region. The earthworks on the development's first area, the Lake District, have begun and are being executed by Riyadh-headquartered Awad Binzafrah Holding Group. In November last year, the company won an early works contract from Ardara that included site clearance, demolition, hoarding and fencing works on the Alwadi project. Expected to be completed by 2026, the project's initial phase will include 2,000 residential units comprising apartments, villas, hotels, and commercial spaces. In October, the PIF launched the Ardara company to develop the Alwadi project, which will span 2.5 million square metres and will have five districts including residential, hospitality and recreation developments in the first phase. Abha is the capital of Aseer province, which Saudi Arabia plans to develop via a $13bn investment plan. The PIF plans to contribute $6.6bn to the total, Crown Prince Mohammed bin Salman announced the $13.3bn strategy to grow tourism in the Aseer region. The strategy seeks to attract 10 million domestic and international visitors to Aseer by 2030.     For registration as supplier: https://ardara.sa/ar/partner-with-us-registration (ICE RIYADH)

Fonte notizia: MEED