Best Islamic real-estate deal – Oman: Yiti Sustainable City’s $162 million facility
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Best Islamic real-estate deal – Oman: Yiti Sustainable City’s $162 million facility



Name of borrower: Yiti Sustainable City

Amount: $162 million

Tenor: Unspecified

Underwriter: Ahli Islamic

Date: November 2023



Yiti is a sustainable city developed by Diamond Developers and the Oman Tourism Development Company with a commitment to carbon neutrality by 2040. It secured its first round of financing via this deal. Proceeds are expected to help minimise the project’s carbon footprint and underscore its role in promoting urban development in Oman.

With a total investment value nearing $1 billion to date, the project helps support Oman's vision for sustainable tourism, while contributing to the country’s environmental preservation and economic diversification plans.

The city represents a big advancement in urban planning, integrating green techniques with strict sustainability requirements.

Ahli Islamic acted as one of the financiers for this project.

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