Diamond Developers signs partnership with OMRAN Group
The partnership behind the community was formalised, and SDIC established as the joint venture to deliver its first phase across 900,000 square metres.
Diamond Developers signed a partnership with the Oman Tourism Development Company (OMRAN Group) to deliver a development with an investment value of approximately AED 3.7 billion, close to one billion US dollars. A joint venture, the Sustainable Development and Investment Company (SDIC), was established to carry out the execution of the first phase.
That first phase covers 900,000 square metres and was set to include green public spaces, residences, tourism, commercial and educational facilities, restaurants, cafes, shops, an equestrian centre and a farm.
- Investment value
- Approximately AED 3.7 billion, close to one billion US dollars
- Phase one area
- 900,000 square metres
- Joint venture
- Sustainable Development and Investment Company (SDIC) S.A.O.C
OMRAN Group's partnership with Diamond Developers marks a major milestone in Yiti Development as we together begin the first phase of this integrated urban destination in Muscat.
We are very excited to join hands with OMRAN to execute our first project in Oman, and to work together on preserving the Sultanate's rich natural environmental resources in accordance with the best global green practices.
Primary source: Read the release on thesustainablecity.com
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