Qatar has announced a groundbreaking $5.5 billion (20 billion Qatari Riyal) development project named Simaisma tourist project, featuring a colossal theme park set to surpass the iconic Walt Disney World’s Magic Kingdom in size.
The Simaisma Project was launched on June 27, 2024, by Qatar’s Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani.
The Simaisma project, located just 40 minutes north of Doha, will span 8 million square meters (1,976 acres) and feature 7 kilometers of pristine beaches.
This ambitious tourism development will include an 18-hole golf course, 300 villas, luxury resorts, a marina, a beach club, and both residential and business zones, according to Qatari media.
Simaisma Project – New cultural landmark in the Middle East
The Simaisma Project is led by the country’s Ministry of Municipality and developed by Qatari Diar Real Estate Investment Company, a unit of the Qatar‘s sovereign wealth fund.
Qatar’s municipality minister Abdullah bin Hamad bin Abdullah Al Attiyah said: “We are steadily advancing towards realizing Qatar’s national vision 2030, building a more prosperous and stable future for coming generations across the economic, social and environmental domains.
Qatari Diar Real Estate Investment Company, a subsidiary of the sovereign wealth fund, will oversee the project. “We have meticulously planned this project under the guidance of the Ministry of Municipality and in alignment with Qatar’s trajectory of continuous growth. This project is poised to establish new benchmarks for tourism in the region and write a new, remarkable chapter in Qatar’s success story,” Qatari Diar CEO Ali Mohamed Al-Ali said.
“The anchor is the theme park, and that phase will come first to attract more people to come and invest,” Ali Mohamed Al-Ali said in an interview with Bloomberg. This initiative is part of the government’s broader plan to diversify the economy through tourism.
Qatari Diar owns 50 investment projects under development in 20 countries around the world, with a total investment value of approximately USD 35 billion. Among the company’s most prominent projects are Lusail City,the Doha Exhibition and Convention Center, Sheraton Park, and the Commercial Street.
Key Facts
The Simaisma project will be located 40 minutes north of country’s capital Doha.
- Simaisma project is backed by a significant QAR 20 billion ($5.5 billion) investment.
- The entertainment park will span 650,000-square-meter (160-acre).
- One of the key highlights of the project is the seven-kilometer-long extension of the waterfront, offering a breathtaking view of the eastern coast of Qatar.
- The tourism development will be centered around a large amusement park that would be bigger than Walt Disney Co.’s iconic Magic Kingdom.
- Qatari Diar is in discussions with various foreign operators to manage the park.
The project will rely on sustainable construction and operation, incorporating cutting-edge smart systems and innovative technologies while prioritizing the use of locally recycled materials.
Expected to be completed in phases over the next few years, the development is envisioned as a comprehensive entertainment destination. In addition to the theme park, the site will feature luxury hotels, family-friendly resorts, and a variety of retail, dining, and leisure facilities.
“We’re not competing with anybody in the region,” said Al-Ali. “We are introducing a new product that’s not available elsewhere, offering all its amenities and services in one location,” he told Bloomberg.
Economic impact
The economic impact of this project is expected to be substantial. During the construction phase, a significant number of jobs will be created, providing a much-needed boost to Qatar’s workforce.
Once operational, the theme park and surrounding facilities are poised to become major tourist attractions, injecting billions of dollars into the local economy. The influx of visitors will necessitate the expansion of Qatar’s hospitality sector, leading to additional job creation in hotels, restaurants, and transportation services.
Qatar diversifying its economy
This ambitious project highlights Qatar’s commitment to diversifying its economy beyond the hydrocarbon industry. Qatar aims for tourism to contribute 12% to its GDP by 2030. Tourism has surged since the 2022 FIFA World Cup, for which the country prepared extensively. Last year, Doha’s airport handled over 45 million passengers. Qatar continues to expand its sports prominence, hosting the AFC Asian Cup and securing a Formula 1 slot, Bloomberg reports.
Expected to be completed in phases over the next few years, the development is envisioned as a comprehensive entertainment destination. In addition to the theme park, the site will feature luxury hotels, family-friendly resorts, and a variety of retail, dining, and leisure facilities.