Muscat: As part of its ongoing efforts to expand tourism investments through strategic alliances, Oman Tourism Development Company (Oman Group) has entered into a development partnership agreement with Diamond Developers, a major real estate development company.
In a statement Oman news agency said: The agreement entails the development of the first phase of Yiti tourism masterplan with an investment value of approximately $ 1 billion. In conjunction with this partnership, a joint venture called Sustainable Development and Investment Company (SDIC) has been established to carry out the execution of this phase.
Omran group said in a tweet : We are delighted to announce that OMRANGroup has entered into a development partnership agreement with Diamond Developers to develop phase 1A of the Yiti Tourism masterplan.
Mr. Hashil Al Mahrouqi, CEO of OMRAN Group, shares details of Phase 1A of Yiti Tourism masterplan, that is set to be one of the largest integrated tourism developments in Oman.
The project further attests to OMRAN Group’s strategic vision in expanding the nation’s tourism sector and boost economic diversification in line with Oman Vision 2040 and National Tourism Strategy.
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