Sustainable city valued at $1bn to drive net zero goals
OMRAN Group and Diamond Developers have launched ‘The Sustainable City – Yiti’, which has an investment value of nearly $1 billion. It will be a fully integrated, urban, mixed-use master project spread over an area of 1 million square meters.
The sustainable city will be developed within phase 1 of the Yiti integrated tourism development masterplan.
Situated in the capital city of Muscat, it is the first project in Oman meeting global green practices.
Commenting on the inauguration, Mohammed Salim Al Busaidi, Chairman of OMRAN Group, stated, “As [the project] is being developed within one of the largest urban developments in the Middle East, it will open avenues for numerous lucrative investment opportunities for both local and international investors in line with the directions of Oman Investment Authority.
“Mirroring the Sultanate’s goal of driving transformational change to attain a green, circular economy and emissions reduction, the city embraces the highest standards of sustainability and attests to our vision of creating an eco-conscious community that is harmoniously aligned with the distinct geography of the region.”
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Driving sustainable tourism
The project has been called a reflection of OMRAN Group’s goals in driving social and economic development with sustainable tourism projects. These hope to align with Oman Vision 2040 and the national tourism strategy.
The sustainable city hopes to bring significant in-country value to the community and boost innovation in the sector. Its development aims to enhance business prospects for local SMEs and generate significant employment opportunities.
Eng. Faris Saeed, Chairman of Diamond Developers, added, “The Sustainable City – Yiti is not only a benchmark for sustainable urban development, it is a working model for future cities.
“The project is expected to be one of the region’s most sustainable cities, and by adopting the latest solutions in energy production, vertical farming, humidity harvesting, and autonomous transportation, we aim to achieve carbon neutrality by 2040, in line with Oman Vision 2040.”
Aligning with net zero
In numerous ways, the project aims to align with the country’s goals to eliminate carbon footprints.
The city is designed to recycle 100% of its waste and water. Solar panels and biogas will ensure its energy needs are fully met and productive farming areas and greenhouses add an element of self-sustenance. Private farming slots will be allocated for residents to encourage them to grow their own produce.
Clean mobility solutions, including autonomous shuttles, electric cars and numerous electric vehicle (EV) charging stations gear the project to mitigate carbon emissions.
Car-free residential areas aim to advance net zero goals, contribute towards making a safer environment for families and promote social engagement within the community.
