Oman Tourism Development Company (Omran Group), has joined hands with Dar Al Arkan, for the development of AIDA, a premium, mixed-use project nestled within Yiti Integrated Tourism Development.
Announcing the AIDA project on its twitter handle, Omran said the value of the investment in the project from both parties will reach $1.5bn, and it will be developed in three phases on an area of 3.5 million square metres.
The project marks Dar Al Arkan’s first entry into Oman to drive the development of the property market and support the growth of the country’s tourism and real-estate sectors in accordance with Oman Vision 2040. Omran said the agreement with Dar Al Arkan will be signed later in the day.
As per the deal, Dar Al Arkan will develop the mixed-use project located 20 minutes from Downtown Muscat, a paradise with a distinctive terrain where the earthy atmosphere envelops as part of a large master development.
Situated on a hilltop, the project which will be developed 100 m above the shores, will comprise 3,500 residential units of medium-sized villas, townhouses, and low-rise apartments. A place where two charming hotels, a plaza filled with cafes and restaurants, a gated promenade with luxury retail and premium wellness centres, and gyms, cradled by a gorgeous outdoor landscape awaits, stated Omran.
