Muscat – National Bank of Oman (NBO) has signed a credit facilities agreement with Dar Global to support the development of AIDA Integrated Tourism Project in Yiti, Muscat. Abdullah al Hinai, Chief Executive Officer of NBO, and Ziad el Chaar, Chief Executive Officer of Dar Global signed the agreement at a ceremony held at the NBO’s head-office.

The agreement complements business growth through tailored financial solutions for this state-of-art project, highlighting NBO’s efforts in strengthening Oman’s real estate and tourism sectors in alignment with Vision 2040. Additionally, the credit facilities agreement provides partial financing for the development of ‘AIDA Oceana’, a landmark project that is an integral part of the Yiti Master Development Plan.

In a press statement, Ghadeer Iqbal al Lawati, Assistant General Manager – Head of Project Finance & Syndication at NBO, said,“We are proud to partner with Dar Global on this transformative project which not only redefines the concept of luxury tourism and community living in Oman but also contributes to the sultanate’s economic diversification goals. The AIDA project represents an important milestone in Oman Vision 2040, and our financial support underscores NBO’s focus on promoting sustainable development and new investment opportunities in the real estate and tourism sectors.”

Chaarsaid,“The AIDA Oceana project is set to be one of the most exclusive luxury destinations in the region, integrating world-class residences and leisure experiences. Perched atop hilltops 100 meters above Muscat shores, AIDA is a mixed-use development project comprised of residences, amenities, and outdoor landscapes. This partnership with NBO strengthens our ability to deliver a world-class development that will attract global investors and visitors to Oman.”

AIDA Oceana is a high-end gated community featuring a Trump Golf Course and luxury residences branded by Trump. With 3,500 residential units including high-end villas, townhouses, and hospitality experiences, the project is poised to elevate luxury living in Oman while boosting the country’s tourism and real estate sectors.

Through this collaboration, NBO and Dar Global seek to establish AIDA as a key driver for luxury tourism and investment, elevating Oman’s global appeal.