Oman inks $900m deal for first phase of sustainable tourism project Yiti – ArabianBusiness.com

Oman inks $900m deal for first phase of sustainable tourism project Yiti – ArabianBusiness.com

Diamond Developers, the mastermind behind The Sustainable City in Dubai, has entered into a 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 AED3.3 billion ($900 million).

A joint venture called Sustainable Development Investment Company (SDIC) has been established to carry out the execution of this phase as part of the deal.