OSB board will do the trick. You need another photo for us to offer a species and finish. Natural finish (clear coat...water based polyurethane finish...NO oil modified) in a low gloss or satin finish on white oak with FLOOD LIGHTS will offer the same "look" as the poor photo. Beyond that, you will need a better photo.

Reclaimed wood ,use pallets you could take apart and nail them up .Could be free if you look on Craig's list for free pallets

Hi Emran, What a great size room you have. You need to create two sitting areas within the space, and pull them into the room (get them off the wall), also I can see from the fantastic chandelier that you have, that the dining table must stay where it is. I would recommend you go with 3 large area rugs, at least 10x12 looking at the size of your room. I would use traditional rugs with different patterns, yet similar colours so that they all work together. Visit alexanian.com for many rug ideas. They ship throughout Canada and US. Here are some of my suggestions, which I feel will pull together the mustard, red, brown and grey colours. Good luck and I love your space. Wendy

Place the cabinet against a different wall and not beneath that beam? There's no need for a false ceiling, instead you could do a simple cornice to soften and enliven the hard line where walls meet ceiling. You could apply the same cornice to the short, hard line where the lower side of the beam meets either wall. Keep it simple. You could even apply cornice ONLY to where the lower edge of the beam meets the walls. It softens the heavy horizontal impression, allowing it to pretend to be a very slight arch. If you're going to repaint, consider using slightly different shades for wall and ceiling. An alternate to the cornice is a shallow horizontal ledge to hold LED cove uplighting along all the walls, at the same height as the lower edge of the beam. If you do this in wood, clad the lower surface of the beam to make a feature of it and to match the cove lighting ledges. Keep the design simple. If you do none of these things, explore Houzz for pleasing and simple lighting solutions to brighten up the room. Just a few ideas...