Oman Investment Fund Plans to Develop ‘Muscat Riviera’

Sunday, 9th October 2016

The Oman Investment Fund (OIF) plans to further develop the area of Yiti and Yenkit in Muscat Governorate to eventually become a “Muscat Riviera”, according to the Oman Observer.

Sheikh Hassan Ahmed al Nabhani, CEO of the fund, mentioned the plans to develop the area near Shangri-La’s Barr Al Jissah Resort at the ‘Invest in Oman’ forum that recently concluded.

Al Nabhani called the area “a model area – the continuation of old Muscat“ and stated they were “awaiting the participation and investment of all in this area.” The OIF’s involvement in the development of Yiti and Yenkit was unveiled in July when the fund called on the general public for ideas and thoughts on how to develop the area.

The proposed integrated developmental plan includes three-star hotels to upscale luxury properties, various kinds of residential areas, outlets and office areas. The combined area of the two destinations amounts to 12 million square meters.

The Sultanate of Oman recently unveiled plans to further develop its position as a tourism and leisure destination, and the OIF plans to combine the amneties of modern life with the traditional appeal of the area.

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