Muscat: Oman Tourism Development Company (OMRAN Group) - the executive arm of the Sultanate for tourism development and Dar Al Arkan, the leading realestate company in Saudi Arabia and the GCC, will sign later today an agreement to develop ‘AIDA’ a premium, mixed-use project nestled within the master plan of Yiti Integrated Tourism Development.

The project marks Dar Al Arkan’s first entry into Oman to drive the development of the property market and support the growth of Oman’s tourism and real-estate sectors in accordance with Oman Vision 2040.

The value of the investment in the project from both parties will reach USD 1.5 billion, and it will be developed in three phases 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, a paradise with a distinctive terrain where the earthy atmosphere envelops as part of a large master development, situated 100m above the shores and overlooking of the Sea of Oman in Muscat, comprising of 3,500 residential units of medium-sized villas, townhouses, and low-rise apartments. A place where two charming hotels of 450 rooms, a plaza filled with cafes and restaurants, a gated promenade with luxury retail and other amenities.

“Yiti Integrated Tourism Development” is one of the largest urban developments in Oman, extending to total area of over 11 million square kilometres. The project is surrounded by unique aspects of the Sultanate’s natural wonders,including its sandy shores, majestic mountains, curvaceous hills and valleys,and unique topographyare naturally enveloping the breath-taking setting to make the most of Oman’s beauty.

In line with the Sultanate's ambitious plans for economic diversification, the project plays a pivotal role in increasing the contribution of the tourism sector to support the national GDP. Based on the position of OMRAN Group as the active national arm in the development of the tourism sector, the project will contribute to providing promising investment opportunities and creating a fertile environment to attract capital and foreign direct investment.

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