IFC Partners with SDIC to advance the first Sustainable Community in Oman

·        IFC’s proposed financing package will advance the delivery of 1,225 apartments and retail and commercial spaces in Muscat.

·        The project is part of Oman's The Sustainable City - Yiti, a development expected to house more than 10,000 residents, create approximately 2,200 direct and indirect jobs, and become the world's first net-zero emissions city by 2040.

Muscat, Oman – September 30, 2026 — The International Finance Corporation (IFC), the World Bank Group's private-sector arm, is supporting the development of the Plaza District within Muscat’s “The Sustainable City - Yiti” through an Islamic financing green facility, helping deliver affordable housing units as well as retail, commercial spaces and community facilities. The deal marks IFC's first real estate investment in Oman.

The Sustainable City - Yiti in Muscat is developed by the Sustainable Development Investment Company (SDIC), the joint venture between OMRAN Group and SEE Holding. The city is designed as a fully sustainable, low-carbon urban community with a net-zero emissions target by 2040. It incorporates renewable energy, water recycling, circular waste systems, local food production, clean mobility, and climate-resilient infrastructure. The city is expected to serve more than 10,000 residents and create approximately 2,200 direct and indirect jobs.

The Plaza represents the social and commercial heart of The Sustainable City – Yiti, creating a dynamic destination where residents, visitors and businesses come together. It will comprise 19 buildings with 1,225 residential units, as well as office and retail space, schools, healthcare, and social facilities.

All buildings are expected to be EDGE Advanced certified, saving over 6,000 megawatt hours of energy and over 80,000 cubic meters of water annually.

Faris Saeed, Founder and Chairman of SEE Holding, said: “This milestone marks an important step in the continued evolution of The Sustainable City - Yiti. As the development progresses, we remain committed to delivering a vibrant and sustainable destination that seamlessly integrates residential, commercial, hospitality, and lifestyle experiences, creating long-term value for residents, visitors, investors, and the Sultanate of Oman."

Saif Sulaiman Al Yarubi, Chairman of SDIC, said: “This milestone marks an important step in the continued evolution of The Sustainable City - Yiti. As the development progresses, we remain committed to delivering a vibrant and sustainable destination that seamlessly integrates residential, commercial, hospitality, and lifestyle experiences, creating long-term value for residents, visitors, investors, and the Sultanate of Oman."

“This project demonstrates that cities can meet growing urban housing demands while advancing sustainability goals,” said IFC’s Division Director for the Gulf Cooperation Council, Abdullah Jefri. “It reflects the World Bank Group’s commitment to supporting scalable projects that create jobs, improve lives, and shape cities that are better prepared for the future.”

The investment is aligned with the World Bank Group's priorities in Oman, which aim to promote job creation, sustainability, and economic diversification in line with Oman's Vision 2040.

Notes to editor:

IFC has signed an OMR 38.5 million (US$100 million) Islamic Finance Green facility with the Sustainable Development Investment Company (SDIC), to exclusively support the Plaza District Development.

An Islamic Green Finance Facility provides Sharia-compliant financing verified environmental projects according to Green Loan Principles.

Beyond supporting the project’s delivery, the financing is supporting international financing into the Sultanate of Oman and demonstrate the use of innovative green Islamic finance structures to mobilize additional private capital.