The project is currently under the planning stage.
As part of its ongoing efforts to expand tourism investments through strategic alliances, the client has entered into a development partnership agreement with Diamond Developers, a major real estate development company. The agreement entails the development of the first phase of the Yiti Tourism masterplan with an investment value of approximately USD1 billion. In conjunction with this partnership, a joint venture called Sustainable Development and Investment Company (SDIC) SAOC has been established to carry out the execution of this phase. The first phase of the Yiti project, which covers 900,000 square metres, will focus on constructing a fully sustainable mixed-use project, the country’s first of its kind community that promotes sustainable living. The first phase will include green public spaces, residences, tourism, commercial, and educational facilities, all with well-balanced and integrated components. Visitors and residents alike will enjoy a variety of unique lifestyle experiences, including restaurants, cafés, shops, and an equestrian center, a farm along with other distinctive components that create a meaningful green-living environment. The two sides announced that full details of the project will be revealed at the official launch ceremony later this year.
The Sustainable Development & Investment Company has awarded Galfar the tender for Construction for the Infrastructure, Grading, and Earthworks at the Sustainable City Yiti. The value of this project is RO 9 million with an execution period of 15 months.
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