Yiti Plaza SC (IFC-52170)

Countries
  • Oman
Geographic location where the impacts of the investment may be experienced.
Specific Location
Yiti village
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 12, 2026
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Sustainable Development Investment Company (SAOC)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 370.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 4, 2026

Disclosed by Bank Jan 14, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, IFC is considering a US$200 million debt financing package to Sustainable Development Investment Company (the “Company” or “SDIC”) which will comprise an (i) A loan of up to US$100 million from IFC’s own account, and (ii) the rest to be mobilized from parallel/B lenders. 

 

Sustainable Development Investment Company SAOC (SDIC) was established for the purpose of developing The Sustainable City Yiti (TSCY) in Oman. TSCY is a mixed residential and commercial development extending over approximately 100 hectares in proximity of the Yiti village, c.40 km East of Muscat. TSCY includes a marina, two hotels, 132 serviced apartments, 300 houses, and the Plaza District - which consists of 17 buildings with 1,225 apartments, c.13,400 m2 of office space and c.14,600 m2 of commercial space. TSCY will also include shared services (general urban infrastructure, a water desalination plant, waste management plant, solar photovoltaic power generation systems, district cooling etc.) and facilities for use by residents and non-residents of the city (a mosque, school, sport facilities, public beach, equestrian and autism centers).

IFC is considering potential upstream support to SDIC, which may include green building certification of the Plaza District, leveraging IFC’s EDGE (Excellence in Design for Greater Efficiencies) and APEX (Advanced Practices for Environmental Excellence in Cities) tools. IFC is also looking to develop a pilot program leveraging on Yiti, to establish the first Green District certification.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Total Project cost of the Plaza District of the city is c.US$370 million. The proposed IFC Murabaha financing to SDIC comprises of: (i) an A-Loan of up to US$100 million; and (ii) mobilization of B/Parallel loans up to US$100 million.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

 

SDIC is a joint venture between SEE Holding and OMRAN Group, created to develop TSCY.

SEE Holding is a Dubai-based real-estate development company specialized in the construction and management of residential districts with a low carbon footprint. SEE Holding has so far developed sustainable cities in Dubai, Sharjah and Abu Dhabi, and is finalizing construction of TSCY in Muscat.

OMRAN Group is Oman's national tourism development company, a state-owned enterprise established in 2005 and wholly owned by the Oman Investment Authority. The company serves as Oman’s master developer for tourism and real estate projects with its policies aligned with the goals of Oman Vision 2040.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Sustainable Development Investment Compan Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Sustainable Development Investment Company
Abdelrahman Elhag
General Manager
0093826515
aelhag@sdic.com
Sustainable Development Investment Company (SAOC) P.O. Box 1777, Bousher Postal Code 133 Muscat, Sultunate of Oman
https://www.sdic.com/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

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How it works