The British website “Blueloop”, which specializes in the latest news and developments in the entertainment industry worldwide, confirmed the importance of the Simaisma project, which was recently announced, noting that it represents a new and distinctive chapter in the success story of the State of Qatar.
The mega project, with an investment volume of 20 billion Qatari riyals ($5.5 billion) and an area of more than 8 million square meters, supports Qatar’s plans to diversify the economy, strengthen the private sector and attract foreign investments, Blue Loop said in a report.
The report pointed out that the project provides promising investment opportunities for the private sector, as it includes more than 16 touristic plots for the private sector, including distinctive resorts, distributed over 4 unique areas in terms of character and use, in addition to a huge amusement park, an international golf course containing 18 holes, residential villas, in addition to a marina for yachts, restaurants and luxury shops.
The report indicated that environmental sustainability is 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.
Blueloop also touched on the project area, which is about 8 million square meters, and is expected to exceed the area of the famous Walt Disney Magic Kingdom. It is a partnership with the private sector by more than 80 percent, and there are about 650 thousand square meters of the project in the form of international amusement parks.
The report added that upon completion, the project will become a new cultural landmark, adding to Qatar’s distinctive landmarks, unique tourist destinations, and a 7-kilometre extension of the waterfront of the Simaisma area, which is characterised by its stunning views of the country’s eastern coast.
It is worth noting that the integrated tourism project of Simaisma is considered an important step towards achieving the ambitious goals of the Third National Development Strategy 2024-2030, which was launched at the beginning of this year.
The project 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).
It is noteworthy that Qatari Diar owns 50 investment projects under development in 20 countries around the world, with a total investment value of approximately $35 billion, and seeks to provide investment opportunities for local and foreign real estate developers in many of its projects around the world.