Diamond Developers To Construct Phase 1 Of $1bn Yiti Project – MEP MiddleEast
- Date: 14-Jan-2022
- Source: MEP Middle East
- Sector:Real Estate
- Country:Middle East
Diamond Developers To Construct Phase 1 Of $1bn Yiti Project – MEP MiddleEast
Diamond Developers, which is 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 Phase 1 of the Yiti Tourism masterplan with an investment value of approximately $1bn (AED3.7bn).
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 Phase 1.