Galfar Engineering & Contracting has secured a contract from Oman’s Sustainable Development & Investment Company for a major part of The Sustainable City – Yiti project. The scope of work includes construction of commercial, residential and office buildings.
Sustainable Development & Investment Company is a joint venture between Oman Tourism Development Company (Omran Group) and Diamond Developers.
The contract, worth nearly RO75 million ($195 million), covers the construction of the plaza and commercial, residential and office buildings as part of the Yiti venture, it said.
This project will further enhance Galfar’s order book and enhance its market share in integrated tourism projects in Oman, stated the company in its filing to the Capital Market Authority (CMA).
A fully integrated urban mixed-use development being built in Muscat, The Sustainable City – Yiti is expected to be the first project in Oman that meets the highest global green practices and adheres to the highest sustainability standards.
The project, which will be spread over an area of 1 million sq m, is being developed within Phase One of the Yiti Integrated Tourism Development Masterplan.
Overlooking the Sea of Oman, it features a unique topography of majestic mountains, undisturbed valleys and pristine shores, which enhances the competitive advantages to the destination.