‘Investment to boost tourism’
The Shura member said that some 15 families have left Yiti, leaving only five in the area.
Tanfeedh officials confirmed that the project is on the table and in the process of negotiations.
The $2billion project was created based upon a Royal Decree, and properties were transferred under a compensation agreement.
The company that was in charge of the project stopped work on the riviera plan during the 2009 financial crisis.
At that time, only a canal had been dug. There are impressive plans for luxury apartments, hotels and even a golf course in the sleepy hollow.
Khalaf Al Jabri, a resident of Yiti, said: “No movement has been seen yet in the area.
“I saw tourism ministry officials visiting the Bandar Khayran area, but no one came here, yet. It will be good if tourism investment comes here, since the previous company employed some of the locals in jobs, such as security guards, which is good,” he said.
In 2013, the Times of Oman reported that Qatari Diar Real Estate Investment Company (Qatari Diar) was taking over a 70 per cent stake in the Yiti project.
The original plans for the development with included construction of three five-star hotels, more than 1,000 apartments, 720 townhouses, some 400 villas and a golf course. Tanfeedh has proposed initiatives in the tourism sector to aid Oman’s economy. One of the proposals is to make the Yiti project a reality. Negotiations are currently on-going with investors.
Tanfeedh says that 10,000 jobs for Omanis will be created in the tourism sector by 2020 through the development of projects and seeking private investments.
“By attracting private investments of at least OMR1.8b, and by increasing international tourist arrivals from 1.9m to 2.7m, 10,000 jobs for Omanis can be created,” Tanfeedh reports.
According to Tanfeedh, private management companies should be hired to take control of heritage sites and protected areas, to develop a year round calendar of events, create tourism projects and assure the delivery of ITCs, hotels and themed attractions.
Last week, Tanfeedh unveiled 121 proposals, as the result of a series of “labs”.