Muscat | Oman

The Sustainable City - Yiti Signs Escrow Agreement with Sohar Islamic

29th June, 2022
Sustainable City Yiti
Understanding with Sohar Islamic Bank to open an Escrow Account for the newly launched master planned project in the capital city of Muscat.
Muscat, Oman – The Sustainable City - Yiti, set to be the first fully sustainable community in Oman, has signed today a Memorandum of Understanding with Sohar Islamic Bank to open an Escrow Account for the newly launched master planned project in the capital city of Muscat.
This agreement was made in abidance by the Sultanate’s Royal Decree No. 30/2018, aimed to protect developers’ funds. In light of that, The Sustainable City Yiti can now offer Escrow services for the buyers of its upcoming 1657 residential units - including 300 eco-friendly and energy-efficient villas, 1225 apartments, and 132 luxury serviced apartments.
The agreement was signed by Mr. Hashil Bin Obaid Al Mahrougi, Chairman of Sustainable Development and Investment Company (SDIC), and Mr. Abdul Wahid Bin Mohammed Al Murshidi, Chief Islamic Banking Officer, Sohar Islamic. The ceremony was also attended by key stakeholders from OMRAN Group, Diamond Developers and Sohar Islamic.
Commenting on this partnership, Mr. Hashil Al Mahrouqi, Chairman of (SDIC), said: With an investment value of nearly one billion US dollars, this project marks a unique milestone in our journey as we continue to invest, develop, and maximize the limitless potential of Omans tourism sector. We are committed to working with our partners to ensure the smoothest experience for our buyers and investors. Our agreement with Sohar Islamic, one of the leading financial institutions in the country, not only protects customers but assists in attracting investors to Omans real estate market.
Mr. Abdul Wahid Al Murshidi, Chief Islamic Banking Officer, Sohar Islamic, said: “We always aspire to collaborate with key strategic partners in the development space. This agreement was a result of a very detailed dialogue and requirements definition exercise between the teams from both sides, and we are delighted to be offering bespoke services to The Sustainable City - Yiti buyers and to support the property sector and the overall economic growth of the Sultanate.
The Sustainable City - Yiti project is a partnership between OMRAN Group, the executive arm of the Sultanate for developing the tourism sector, and Diamond Developers – the leading company in developing sustainable communities. The project will be the largest operational sustainable community in the region, designed to deliver measurable outcomes across the three pillars of sustainability: social, environmental, and economic, and will achieve net-zero carbon targets by 2040.
Источник: https://www.thesustainablecity-yiti.com/news/

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The Sustainable Villas Yiti

The Sustainable City - Yiti wins two accolades at the prestigious Dossier Construction Awards and Summit

3rd of November, 2022
Sustainable City Yiti Villa

• Organized under the auspices of the Ministry of Housing & Urban Planning, the high-profile annual event, celebrates the highest-level achievements across the construction, infrastructure and real estate sectors.• The award ceremony was attended by H.E. Dr. Khalfan Al Shueili, Minister of Housing & Urban Planning, as the chief guest for the event• The Sustainable City – Yiti, a joint venture between Diamond Developers and Oman Tourism Development Company (OMRAN Group), was recognized with ‘Best Sustainable Project’ and ‘Best Sustainable Development’ awards.• The project was rewarded for its innovative sustainable solutions and effective environmental, social and economic management, setting global benchmarks in sustainable development.The Sustainable City - Yiti (TSC - Yiti), Oman's first fully sustainable city and the largest sustainable community in the Middle East, bagged two prestigious awards at the 10th edition of the Dossier Construction Awards & Summit (DCIAS). The project won both the 'Best Sustainable Project' and 'Best Sustainable Development' accolades for providing the highest standards of environmental, social, and economic sustainability. This includes clean energy production, recycling, vertical farming, and the adoption of clean and sustainable transportation, as well as other solutions that improve residents' quality of life and reduce their carbon footprint.The project was launched earlier this year, as a joint venture between Diamond Developers, the leading company in developing sustainable communities, and Oman Tourism Development Company (OMRAN Group), as phase 1 of the Yiti Integrated Tourism Development Masterplan.Bringing together the leading names and recognizing the top performers across construction, infrastructure, real estate, manufacturing and design & engineering consultancy, the Dossier Construction Awards & Summit is renowned and established as a mark of international excellence. The award ceremony was held in Sheraton Oman hotel in the presence of H.E. Dr. Khalfan Al Shueili, Minister of Housing & Urban Planning and leaders across various industry. Hashil bin Obaid al Mahrouqi, CEO of Omran Group received the awards on behalf of The Sustainable City - Yiti. In response to the win, Hashil bin Obaid al Mahrouqi, CEO of Omran Group said: “We are honored to have The Sustainable City - Yiti recognized at this year's Dossier Construction Awards & Summit. This stands as a testament to our unwavering commitment to reaching our sustainable development goals and creating an eco-conscious community that is harmoniously aligned with the distinct geography of the region. It also underlines our strategy to bringing significant in-country value, by generating employment opportunities, and giving local talents the necessary exposure to international markets, and the opportunity to learn from experts in the field.”“TSC - Yiti is a pioneering project that can transform the entire global sustainable development paradigm, built on an inclusive and integrated philosophy, bringing the highest sustainability standards and the best quality of life, in alignment with the Oman 2040 vision.”- he added.Located on the picturesque coastline, overlooking the Gulf of Oman, TSC - Yiti brings together a pioneering vision of sustainability and an unparalleled quality of community living to Oman.Spread across 86 hectares, the project overlooks the beautiful Gulf of Oman and is strategically located 30km from central Muscat. The community encompasses villa clusters, apartments, hotels urban farming, a central plaza with a mall, school, nursery, an institute, medical clinics, a rehabilitation center, a museum, a green mosque, sports complex, equestrian centre, and will be able to accommodate up to 10,000 visitors and residents.The Sustainable City - Yiti is expected to be completed in 2025, driving the industry towards a net zero journey in alignment with the 2050 climate targets.

The Sustainable City - Yiti wins two accolades at the prestigious Dossier Construction Awards and Summit

3rd of November, 2022Sustainable City Yiti Villa

Читать далее

• Organized under the auspices of the Ministry of Housing & Urban Planning, the high-profile annual event, celebrates the highest-level achievements across the construction, infrastructure and real estate sectors.• The award ceremony was attended by H.E. Dr. Khalfan Al Shueili, Minister of Housing & Urban Planning, as the chief guest for the event• The Sustainable City – Yiti, a joint venture between Diamond Developers and Oman Tourism Development Company (OMRAN Group), was recognized with ‘Best Sustainable Project’ and ‘Best Sustainable Development’ awards.• The project was rewarded for its innovative sustainable solutions and effective environmental, social and economic management, setting global benchmarks in sustainable development.The Sustainable City - Yiti (TSC - Yiti), Oman's first fully sustainable city and the largest sustainable community in the Middle East, bagged two prestigious awards at the 10th edition of the Dossier Construction Awards & Summit (DCIAS). The project won both the 'Best Sustainable Project' and 'Best Sustainable Development' accolades for providing the highest standards of environmental, social, and economic sustainability. This includes clean energy production, recycling, vertical farming, and the adoption of clean and sustainable transportation, as well as other solutions that improve residents' quality of life and reduce their carbon footprint.The project was launched earlier this year, as a joint venture between Diamond Developers, the leading company in developing sustainable communities, and Oman Tourism Development Company (OMRAN Group), as phase 1 of the Yiti Integrated Tourism Development Masterplan.Bringing together the leading names and recognizing the top performers across construction, infrastructure, real estate, manufacturing and design & engineering consultancy, the Dossier Construction Awards & Summit is renowned and established as a mark of international excellence. The award ceremony was held in Sheraton Oman hotel in the presence of H.E. Dr. Khalfan Al Shueili, Minister of Housing & Urban Planning and leaders across various industry. Hashil bin Obaid al Mahrouqi, CEO of Omran Group received the awards on behalf of The Sustainable City - Yiti. In response to the win, Hashil bin Obaid al Mahrouqi, CEO of Omran Group said: “We are honored to have The Sustainable City - Yiti recognized at this year's Dossier Construction Awards & Summit. This stands as a testament to our unwavering commitment to reaching our sustainable development goals and creating an eco-conscious community that is harmoniously aligned with the distinct geography of the region. It also underlines our strategy to bringing significant in-country value, by generating employment opportunities, and giving local talents the necessary exposure to international markets, and the opportunity to learn from experts in the field.”“TSC - Yiti is a pioneering project that can transform the entire global sustainable development paradigm, built on an inclusive and integrated philosophy, bringing the highest sustainability standards and the best quality of life, in alignment with the Oman 2040 vision.”- he added.Located on the picturesque coastline, overlooking the Gulf of Oman, TSC - Yiti brings together a pioneering vision of sustainability and an unparalleled quality of community living to Oman.Spread across 86 hectares, the project overlooks the beautiful Gulf of Oman and is strategically located 30km from central Muscat. The community encompasses villa clusters, apartments, hotels urban farming, a central plaza with a mall, school, nursery, an institute, medical clinics, a rehabilitation center, a museum, a green mosque, sports complex, equestrian centre, and will be able to accommodate up to 10,000 visitors and residents.The Sustainable City - Yiti is expected to be completed in 2025, driving the industry towards a net zero journey in alignment with the 2050 climate targets.

The Road to Net-Zero Emissions Living in Oman Has Begun: With the Sustainable City – Yiti Well Underway, the Launch of the Property Sales Sheds Light on Its Remarkable Progress

15th of May 2023Sustainable City Yiti Villa

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Embarking on a significant path towards achieving net zero emissions, The Sustainable City – Yiti announced the much-anticipated launch of property sales for phase one of the largest sustainable community in the region, with 422 residential units designed in line with the highest social, environmental, and economic sustainability standards.A diverse selection of 136 eco-friendly residential villas will be available for purchase, each showcasing an elegant and energy-efficient design with spacious three and four-bedroom units. Additionally, a wide variety of 286 modern apartments will be offered, ranging from cosy studios to expansive three-bedroom units. All are designed to enhance the quality of life for residents while reducing their carbon emissions.The city will be powered by clean, renewable energy sources, prominently featuring solar panels that are tactically mounted on rooftops and parking facilities. This approach enables residents to achieve up to 100% energy bill savings.Expected to be completed by 2025, the development will feature a green spine running the length of the community, complete with biodomes and community gardens.Commenting on the monumental occasion, Hashil Obaid Al Mahrouqi, Chairman of Sustainable Development and Investment Company (SDIC), and OMRAN Group’s Chief Executive Officer said, “We are delighted about our partnership with Diamond Developers on The Sustainable City – Yiti, with joint efforts and determination in establishing the first development of this scale in Oman as one of the largest sustainable and urban developments in the region, that meets global green practices and is in adherence to the highest sustainability standards.Salah Habib, CEO of Diamond Developers said, 'The resounding success of The Sustainable City concept and the high demand for our brand are testaments to the growing appetite for eco-friendly living.'

The Sustainable City Yiti outlines commitment to Oman

16 November 2022Sustainable City Yiti Villa

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• In-country value of billion-dollar-project contributing significantly to Sultanate’s economy• 78.65% of Omani-sourced material used in the one million-square meter project construction during the last two quarters alone.• More than 58 SMEs in Oman have benefited from the works being undertaken at TSCYThe Sustainable City-Yiti (TSCY), a development by Sustainable Development Investment Company (SDIC) - a partnership between Diamond Developers and Oman Tourism Development Company (OMRAN Group), has reaffirmed its commitment to the Sultanate.The billion-dollar development aims to support the goals of the Oman Vision 2040, as well as the National Tourism Strategy, by creating a live-work-thrive city, that is green, energy efficient, and people-centric.It is also playing an integral role in contributing to in-country value for the Sultanate, with 78.65% of Omani-sourced goods & materials being sourced in the past six months alone. More than 58 SMEs in Oman have also benefited from the works undertaken at TSCY in the last two quarters.Scheduled to complete in 2025, the development has supported more than 1,800 jobs during construction, both direct and indirect, generating over 961,000-man hours to date.Eng. Ammar Sulaiman Al Kharusi, Head of development at OMRAN Group said: “We are delighted to play our part in strengthening the economy of Oman, from the tourism sector to SMEs and the huge number of employment opportunities through this exciting project. Ours is a truly sustainable development in every sense of the word and by driving in-country value across the board, we are further contributing to the growth and prosperity of the Sultanate.”TSCY will consist of 300 villas, 1,225 apartments and 132 luxury serviced apartments. The community also includes indoor and vertical farms, a central plaza with a mall, a school, a nursery, two hotels, a sports complex, medical clinics, an autism center, and an institute.Home to 10,000 residents and visitors once complete, The Sustainable City - Yiti will be the largest operational sustainable community in the world, with ambitions to be the first Net Zero Carbon community in Oman by 2040. The city is designed to deliver measurable outcomes across all three pillars of sustainability: social, environmental, and economic, bringing forward the UN emission reduction targets for 2050.The city follows the blueprint for low-carbon living that was pioneered by the first ‘The Sustainable City’, which opened in Dubai in 2016. The model ensures a reduction in carbon footprint, from design to operation, using disruptive innovation to achieve transformational societal change.

Bank Nizwa Offers Shari’ah-Compliant Home Finance Solutions for the Sustainability City – Yiti; Signs MoU with Sustainable Development and Investment Company

26th of November 2022Sustainable City Yiti Villa

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As the leading Islamic bank in Oman, Bank Nizwa has consistently endeavoured to contribute to the nation’s revenue diversification agenda. In line with the same, the bank recently signed a Memorandum of Understanding (MoU) with Sustainable Development and Investment Company (SDIC) to offer Shari’ah-compliant home finance solutions to customers aspiring to buy properties at The Sustainability City – Yiti.With a competitive profit rate of 4.85 per cent, Bank Nizwa seeks to make owning a home at this iconic location even more convenient, quick and secure.The Sustainable City – Yiti is set to be the first fully sustainable community in Oman, and will meet the highest standards of social, environmental and economic sustainability, with mixed housing typologies to suit different categories.Commenting on the signing of the MoU, Khaled Al Kayed, Chief Executive Officer at Bank Nizwa said, “We are indeed delighted to have signed this MoU with SDIC, the company responsible for developing the Sustainable City - Yiti, one of the region’s most prominent urban development projects to embrace the principles of sustainability.Hashil bin Obaid al Mahrouqi, Chairman of the Board of Directors of the SDIC said, “We are pleased to sign this agreement with Bank Nizwa. This signing comes as part of our continued commitment to work with our partners to provide superior services and reliable financing solutions to investors and customers of The Sustainable City - Yiti.”The Sustainable City - Yiti project is being developed by Sustainable Development and Investment Company (SDIC), a joint venture between OMRAN Group, the executive arm of the Sultanate for developing the tourism sector, and Diamond Developers, the leading company in developing sustainable communities.The Islamic home financing solutions from Bank Nizwa will hugely benefit buyers as the project provides a lucrative investment opportunity with immense growth potential. Bank Nizwa, through its continued local and international alliances, has been proactive in creating partnerships that aid in the sustainable progress of the country and the welfare of its people.

The Sustainable City - Yiti wins two accolades at the prestigious Dossier Construction Awards and Summit

3rd of November, 2022Sustainable City Yiti Villa

Читать далее

• Organized under the auspices of the Ministry of Housing & Urban Planning, the high-profile annual event, celebrates the highest-level achievements across the construction, infrastructure and real estate sectors.• The award ceremony was attended by H.E. Dr. Khalfan Al Shueili, Minister of Housing & Urban Planning, as the chief guest for the event• The Sustainable City – Yiti, a joint venture between Diamond Developers and Oman Tourism Development Company (OMRAN Group), was recognized with ‘Best Sustainable Project’ and ‘Best Sustainable Development’ awards.• The project was rewarded for its innovative sustainable solutions and effective environmental, social and economic management, setting global benchmarks in sustainable development.The Sustainable City - Yiti (TSC - Yiti), Oman's first fully sustainable city and the largest sustainable community in the Middle East, bagged two prestigious awards at the 10th edition of the Dossier Construction Awards & Summit (DCIAS). The project won both the 'Best Sustainable Project' and 'Best Sustainable Development' accolades for providing the highest standards of environmental, social, and economic sustainability. This includes clean energy production, recycling, vertical farming, and the adoption of clean and sustainable transportation, as well as other solutions that improve residents' quality of life and reduce their carbon footprint.The project was launched earlier this year, as a joint venture between Diamond Developers, the leading company in developing sustainable communities, and Oman Tourism Development Company (OMRAN Group), as phase 1 of the Yiti Integrated Tourism Development Masterplan.Bringing together the leading names and recognizing the top performers across construction, infrastructure, real estate, manufacturing and design & engineering consultancy, the Dossier Construction Awards & Summit is renowned and established as a mark of international excellence. The award ceremony was held in Sheraton Oman hotel in the presence of H.E. Dr. Khalfan Al Shueili, Minister of Housing & Urban Planning and leaders across various industry. Hashil bin Obaid al Mahrouqi, CEO of Omran Group received the awards on behalf of The Sustainable City - Yiti. In response to the win, Hashil bin Obaid al Mahrouqi, CEO of Omran Group said: “We are honored to have The Sustainable City - Yiti recognized at this year's Dossier Construction Awards & Summit. This stands as a testament to our unwavering commitment to reaching our sustainable development goals and creating an eco-conscious community that is harmoniously aligned with the distinct geography of the region. It also underlines our strategy to bringing significant in-country value, by generating employment opportunities, and giving local talents the necessary exposure to international markets, and the opportunity to learn from experts in the field.”“TSC - Yiti is a pioneering project that can transform the entire global sustainable development paradigm, built on an inclusive and integrated philosophy, bringing the highest sustainability standards and the best quality of life, in alignment with the Oman 2040 vision.”- he added.Located on the picturesque coastline, overlooking the Gulf of Oman, TSC - Yiti brings together a pioneering vision of sustainability and an unparalleled quality of community living to Oman.Spread across 86 hectares, the project overlooks the beautiful Gulf of Oman and is strategically located 30km from central Muscat. The community encompasses villa clusters, apartments, hotels urban farming, a central plaza with a mall, school, nursery, an institute, medical clinics, a rehabilitation center, a museum, a green mosque, sports complex, equestrian centre, and will be able to accommodate up to 10,000 visitors and residents.The Sustainable City - Yiti is expected to be completed in 2025, driving the industry towards a net zero journey in alignment with the 2050 climate targets.

The Road to Net-Zero Emissions Living in Oman Has Begun: With the Sustainable City – Yiti Well Underway, the Launch of the Property Sales Sheds Light on Its Remarkable Progress

15th of May 2023Sustainable City Yiti Villa

Читать далее

Embarking on a significant path towards achieving net zero emissions, The Sustainable City – Yiti announced the much-anticipated launch of property sales for phase one of the largest sustainable community in the region, with 422 residential units designed in line with the highest social, environmental, and economic sustainability standards.A diverse selection of 136 eco-friendly residential villas will be available for purchase, each showcasing an elegant and energy-efficient design with spacious three and four-bedroom units. Additionally, a wide variety of 286 modern apartments will be offered, ranging from cosy studios to expansive three-bedroom units. All are designed to enhance the quality of life for residents while reducing their carbon emissions.The city will be powered by clean, renewable energy sources, prominently featuring solar panels that are tactically mounted on rooftops and parking facilities. This approach enables residents to achieve up to 100% energy bill savings.Expected to be completed by 2025, the development will feature a green spine running the length of the community, complete with biodomes and community gardens.Commenting on the monumental occasion, Hashil Obaid Al Mahrouqi, Chairman of Sustainable Development and Investment Company (SDIC), and OMRAN Group’s Chief Executive Officer said, “We are delighted about our partnership with Diamond Developers on The Sustainable City – Yiti, with joint efforts and determination in establishing the first development of this scale in Oman as one of the largest sustainable and urban developments in the region, that meets global green practices and is in adherence to the highest sustainability standards.Salah Habib, CEO of Diamond Developers said, 'The resounding success of The Sustainable City concept and the high demand for our brand are testaments to the growing appetite for eco-friendly living.'

Пресса и новости

The Sustainable City - Yiti wins two accolades at the prestigious Dossier Construction Awards and Summit

3rd of November, 2022

Sustainable City Yiti Villa

Читать далее

The Road to Net-Zero Emissions Living in Oman Has Begun: With the Sustainable City – Yiti Well Underway, the Launch of the Property Sales Sheds Light on Its Remarkable Progress

15th of May 2023

Sustainable City Yiti Villa

Читать далее

The Sustainable City Yiti outlines commitment to Oman

16 November 2022

Sustainable City Yiti Villa

Читать далее

Bank Nizwa Offers Shari’ah-Compliant Home Finance Solutions for the Sustainability City – Yiti; Signs MoU with Sustainable Development and Investment Company

26th of November 2022

Sustainable City Yiti Villa

Читать далее

The Sustainable City - Yiti wins two accolades at the prestigious Dossier Construction Awards and Summit

3rd of November, 2022

Sustainable City Yiti Villa

Читать далее

The Road to Net-Zero Emissions Living in Oman Has Begun: With the Sustainable City – Yiti Well Underway, the Launch of the Property Sales Sheds Light on Its Remarkable Progress

15th of May 2023

Sustainable City Yiti Villa

Читать далее