Dar Al Arkan and OMRAN Group to develop ‘AIDA’ in Oman

Dar Al Arkan and OMRAN Group to develop ‘AIDA’ in Oman

Dar Al Arkan, the leading real estate company in Saudi Arabia and the GCC, and Oman Tourism Development Company (OMRAN Group) – the executive arm of the Sultanate for tourism development, signed an agreement at Expo 2020 Dubai to develop ‘AIDA’ one of the largest premium, mixed-use real estate projects located in the Yiti area in Muscat.

This marks Dar Al Arkan’s first entry into Oman to drive the development of the property market and support the growth of Oman’s real estate sector in accordance with Oman Vision 2040. The investment value from both parties will reach SR6 billion, and will be developed in three stages on an area of 3.5 million square metres.

Through the partnership, Dar Al Arkan will develop a mixed-use project in Yiti and Yankat areas, 20-minutes from Downtown Muscat, situated 100m above the shores and overlooking the Sea of Oman in Muscat, comprising of 3,500 residential units, two hotels, a plaza with cafes/restaurants, a gated promenade with luxury retail and more.

Ziad El Chaar, Vice Chairman, Dar Al Arkan Properties: “Oman has always offered an exceptional experience for residents and tourists, and the development of Yiti and Yankat areas will further elevate the nation’s offering and position it