The developer behind Sustainable City communities in Dubai and Sharjah is putting its stamp on a project in Muscat. Diamond Developers will build the first phase of the Yiti Tourism project in Oman for an estimated $1 billion.
The Sustainable Development and Investment Company will be set up following an agreement with Oman Tourism Development Co. (Omran Group).
The first phase of Yiti project, which covers 900,000 square meters, aims to develop a fully sustainable mixed-use project, the Sultanate’s first community that promotes sustainable living. Details of the project will be revealed at the official launch later this year.
“The signing further attests to Omran Group’s strategic vision in expanding the nation’s tourism sector and continuing to play a pivotal role as a catalyst and enabler of lucrative investment opportunities in the country,” said Hashil Bin Obaid Al Mahrouqi, CEO of OMRAN Group.