The first contract for construction of the Sustainable City – Yiti project in Oman has been awarded by Sustainable Development & Investment Company to Galfar Engineering and Contracting Company.
Galfar will construct central plaza and commercial, residential and office buildings at the Sustainable City – Yiti project, reported Muscat Daily.
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Sustainable Development & Investment Company is a joint venture between Oman Tourism Development Company (Omran Group) and Diamond Developers, a developer of sustainable communities.
Galfar stated: “We are pleased to inform our esteemed shareholders that Sustainable Development & Investment Company has awarded Galfar a contract for the construction of plaza, commercial, residential and office buildings at Sustainable City – Yiti project.”
The tender carries a value of around ($195m) OMR75m. It has an execution period of 26 months.
Galfar added: “This project will further strengthen Galfar’s order book and enhance its marketing share in integrated tourism projects in Oman. We take this opportunity to express our appreciation to Sustainable Development & Investment Company for the confidence vested on Galfar through award of this project.”
Recently, Omran Group and Diamond Developers celebrated the project’s launch.
This completely-integrated, urban, mixed use project with an investment value of almost $1bn is spread over an area of 1 million square metres.
Sustainable City – Yiti – will be developed within the first phase of the Yiti Integrated Tourism Development Masterplan.
Scheduled for completion by 2025, the project will have 1,657 residential units including 300 three- and four-bedroom villas. These units, intended to be eco-friendly and energy-efficient, will be designed for comfort, practicality, and contemporary style.
It is claimed to be the first project in Oman that meets the global green practices.
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Image: This completely-integrated, urban, mixed use project with an investment value of almost $1bn is spread over an area of 1 million square metres. Credit: Omran Group.
