Leading Omani construction firm Galfar Engineering & Contracting says it has been awarded a contract valued at around RO 75 million for the implementation of part of the prestigious The Sustainable City – Yiti project.
The client is the Sustainable Development & Investment Company SAOC, a joint venture between Oman Tourism Development Company (Omran Group) and Diamond Developers. Galfar’s contract covers the construction of Plaza, 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 the Sultanate of Oman,” said the company in a filing to the Capital Market Authority (CMA) on Wednesday.
Unveiled recently, The Sustainable City – Yiti’ will be developed at a cost of around $1 billion. Slated for completion by 2025, the project will feature 1657 eco-friendly and energy-efficient residential units including 300 villas.
Also envisages are a four-star neighbourhood hotel with 197 rooms, a five-star resort with 170 rooms and a range of restaurants, leisure facilities, 132 luxury serviced apartments, offering sophisticated services and various tourism experiences.