Qatar is starting work on a new $5.5 billion tourism development centered around a large amusement park that will be bigger than Walt Disney Co.’s iconic Magic Kingdom. The Simaisma project, located about 40 minutes north of Doha, will span 8 million square meters (1,976 acres) along 7 kilometers of beachfront. It will include an 18-hole golf course surrounded by 300 villas, luxury resorts, a marina and beach club, as well as homes and shops.
The Qatari Diar Real Estate Investment Company, a unit of the state’s sovereign wealth fund, has been appointed by the government to manage the development of the project. According to Qatari Diar CEO Ali Mohamed Al-Ali, the theme park will be the anchor phase to attract more people to invest. This initiative is part of Qatar’s strategy to diversify its economy and boost the tourism sector, aiming for the tourism industry to contribute 12% to the country's GDP by 2030.
The development is part of Qatar's long-term efforts to become a vacation destination. Since hosting the FIFA World Cup in 2022, which saw over $300 billion in preparations, Qatar has seen a surge in tourism. More than 45 million travelers passed through Doha’s airport last year. The nation continues to host significant events, including the AFC Asian Cup, Formula 1 racing, the FIFA Arab Cup next year, and the FIBA Basketball World Cup in 2027.
The Simaisma development will significantly expand Qatar's beachfront resorts, addressing the current shortage as only 10% of the country's 39,000 hotel rooms are beachfront. This project aims to introduce a unique product not available elsewhere in the region, combining all amenities and services in one location, thus positioning Qatar as a premier tourist destination.
Qatari Diar is in discussions with several international park operators to manage the amusement park and expects to finalize a decision soon. The new park will cover 650,000 square meters (160 acres), making it larger than Magic Kingdom. Additionally, 16 plots will be sold to private developers and investors for building hotels, homes, and other facilities. Current discussions include potential developers from Saudi Arabia, UAE, Turkey, the US, and Europe.
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