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Diamond Developers, the mastermind behind The Sustainable City brand, the first fully operational sustainable community in the Middle East has entered into a development partnership agreement with the Oman Tourism Development Company (OMRAN Group), the executive arm of the Sultanate for tourism development. The agreement entails the development of first phase of the Yiti Tourism masterplan with an investment value of approximately AED 3.7 billion (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. “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. 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 multi-fold, lucrative investment opportunities in the country in line with Oman Investment Authority’s directions in realising the ambitious goals of Oman Vision 2040 and supporting the delivery of the National Tourism Strategy,” said Hashil Bin Obaid Al Mahrouqi, CEO of OMRAN Group. “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 meters, will focus on constructing a fully sustainable mixed-use project, the Sultanate’s first of its kind community that promotes sustainable living. The first phase will …

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