IFC’s Oman Property Investment Backs Green Homes at Muscat’s Sustainable City Yiti

The deal marks IFC’s first real estate investment in Oman, bringing its support to a neighbourhood that will combine housing with places to work, shop, access healthcare and send children to school.

The International Finance Corporation (IFC), the World Bank Group's private sector arm, is backing the Plaza District at The Sustainable City – Yiti in Muscat through an Islamic green financing facility, supporting affordable homes, commercial spaces and community services in a development designed around lower resource use. The deal marks IFC's first real estate investment in Oman, bringing its support to a neighbourhood that will combine housing with places to work, shop, access healthcare and send children to school.

A Neighbourhood Built Around Everyday Needs

The Plaza is planned as the social and commercial centre of The Sustainable City – Yiti, with 19 buildings containing 1,225 residential units alongside offices, retail outlets, schools, healthcare services and social facilities. Bringing these uses into one district gives the development a role beyond providing homes, creating a destination where residents, visitors and businesses can share services and contribute to the community's daily activity.

The wider city is being developed by the Sustainable Development Investment Company (SDIC), a joint venture between OMRAN Group and SEE Holding, and is expected to accommodate more than 10,000 residents and generate approximately 2,200 direct and indirect jobs. Those figures cover the broader development, with the Plaza providing a central setting for the housing, business activity and community facilities that will help give the city its character.

Lower Energy and Water Use Shape the Development

The Sustainable City – Yiti is designed as a sustainable, low-carbon urban community with a net-zero emissions target for 2040, supported by renewable energy, water recycling, circular waste systems, local food production, clean mobility and climate-resilient infrastructure. These features place the management of energy, water, waste and transport within the city's design, connecting its environmental ambitions with the systems residents will depend on every day.

All buildings in the Plaza are expected to receive EDGE Advanced certification, with projected annual savings exceeding 6,000 megawatt hours of energy and 80,000 cubic metres of water. The anticipated reductions give a measurable picture of the district's resource-saving plans, making building performance an important part of a project that also needs to meet growing demand for housing and services in Muscat.

Investment Connects Community Growth With Oman's Vision 2040

Faris Saeed, Founder and Chairman of SEE Holding, described the financing milestone as an important step in the development's progress, highlighting the company's commitment to a destination that brings together residential, commercial, hospitality and lifestyle experiences. Saif Sulaiman Al Yarubi, Chairman of SDIC, expressed the same commitment to creating lasting value for residents, visitors, investors and Oman, placing the community's future appeal alongside its contribution to the country's development.

Abdullah Jefri, IFC's Division Director for the Gulf Cooperation Council, said the project demonstrates how cities can respond to growing housing needs and advance sustainability goals through the same development. He linked the investment to the World Bank Group's support for projects that can be replicated at scale, create jobs, improve lives and prepare cities for future demands. IFC's financing also supports the World Bank Group's priorities in Oman, connecting job creation, sustainability and economic diversification with Oman's Vision 2040.