Doha Qatari Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani inaugurated on Thursday the “Sustainable Simaisma” project, which will be built on an area of 8 million square meters and extending along the waterfront for 7 kilometers on the eastern coast of the State of Qatar. It is one of the latest projects of the Ministry of Municipality, and is managed by Qatari Diar Real Estate Investment Company with an investment of 20 billion riyals ($5.5 billion).
The project is an investment opportunity for the private sector, as it includes more than 16 tourist plots of land for the private sector, including distinctive resorts, distributed over 4 unique areas in terms of character and use, in addition to a huge games city, an international golf course containing 18 holes, and residential villas, in addition to A marina for yachts, restaurants and luxury shops.
Sustainability represents a fundamental pillar of the project in terms of relying on smart systems, using local and recycled materials, and benefiting from the latest construction technologies.
The integrated tourism project is considered an important step on the path to achieving the ambitious goals of the third national development strategy 2024-2030, which was launched at the beginning of this year, and aims to:
- Enhancing the contribution of the non-oil sector to the Qatari economy.
- Empowering the private sector.
- Encouraging foreign direct investments. The project provides promising investment opportunities for real estate development and tourism investment companies, thus enhancing the development process and diversifying the resources of the national economy.
Enriching tourism
In a speech he delivered during the ceremony, Qatari Minister of Municipality Abdullah bin Hamad bin Abdullah Al-Attiyah stressed the importance of concerted efforts and close cooperation between partners in the public and private sectors in order to enhance and continue the growth process witnessed by Qatar.
He added, “We are moving with determination and steadfastness towards achieving the goals of Qatar National Vision 2030, and building a more prosperous and stable future for the next generation economically, socially and environmentally. We look forward to contributing to enriching the tourism and entertainment sector with more projects that meet the growing demand in this vital sector.”
For his part, the CEO of Qatari Diar Real Estate Investment Company, Engineer Ali bin Mohammed Al Ali, said: “Our latest projects have been planned under the umbrella of the Ministry of Municipality, and in line with the continuous growth path pursued by the State of Qatar. This project will set a new standard for tourism in the region, He writes a new and wonderful chapter in the ongoing success story achieved by the State of Qatar.”
He added, “The real estate sector, whose market value in Qatar is estimated at approximately $485 billion in 2024, ranks second after the energy sector in attracting foreign direct investments. The real estate sector in Qatar has witnessed steady growth over the past few years, driven by high demand for residential real estate.” And trade, with significant tourism growth, Qatar’s hosting of major events, and the growth of the business and trade sector in the country.”
It is noteworthy that Qatari Diar owns 50 investment projects under development in 20 countries around the world, with a total investment value of about $35 billion, and it seeks to provide investment opportunities for local and foreign real estate developers in many of its projects around the world.
Simaisma is a village located on the eastern coast of Qatar, about 30 kilometers north of the capital, Doha. Some of its residents worked in diving and searching for pearls, and others worked in herding camels and sheep.
