Muscat -As part of its ongoing efforts to expand tourism investments through strategic alliances, The Oman Tourism Development Company (OMRAN Group) 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 USD 1 billion. In conjunction with this partnership, a joint venture called Sustainable Development and Investment Company (SDIC) S.A.O.C has been established to carry out the execution of this phase.
“We are delighted to collaborate with Diamond Developers as they are one of the leading and reputable companies in building sustainable cities in the region. Their approach is in line with our vision of adopting the foundations of placemaking and harnessing sustainability in all aspects of the development.” Al Mahrouqi added.
The first phase of the Yiti project, which covers 900,000 square…