Qatar is launching a new 20 billion riyal ($5.5 billion) tourism development centered on a massive amusement park that is expected to be larger than Walt Disney Co.’s iconic Magic Kingdom.
The Simaisma project will be located approximately 40 minutes north of Doha, Qatar’s capital, and will eventually cover 8 million square meters (1,976 acres) across 7 kilometers of beachfront land. The development will also feature an 18-hole golf course surrounded by 300 villas, luxury resorts, a marina, and a beach club, as well as homes and shops.
The government has appointed Qatari Diar Real Estate Investment Company, a state sovereign wealth fund unit, to oversee the project’s development.
“The anchor is the theme park and that phase will be coming first to attract more people to come and invest,” Qatari Diar Chief Executive Officer Ali Mohamed Al-Ali said in an interview. “It’s part of the government strategy to diversify the economy and invest in the tourism pillar.”
The project is part of Qatar’s long-term efforts to transform itself into a vacation destination. Qatari officials have stated that they want the tourism industry to contribute 12% of the country’s GDP by 2030, and the country has welcomed throngs of tourists since hosting the FIFA World Cup in 2022, which cost more than $300 billion to prepare for.
Last year, more than 45 million people passed through Doha’s airport, and the country of about 2.5 million is beginning to wield significant power in the global sporting arena. For example, it recently hosted the AFC Asian Cup soccer tournament and secured a permanent spot on the Formula 1 racing calendar through a 10-year agreement signed last year. Doha will also host the FIFA Arab Cup next year, as well as the FIBA Basketball World Cup in 2027.
Qatari Diar is currently in talks with several international park operators about managing the amusement park and expects to decide in the coming months, Al-Ali said. At 650,000 square meters (160 acres), the new park is expected to be even larger than Magic Kingdom, which is slightly more than 100 acres.
According to Al-Ali, 16 plots of land will be sold to private developers and investors to build hotels, homes, and other facilities. The CEO stated that discussions are currently underway with developers from Saudi Arabia, the UAE, Turkey, the United States, and Europe who have expressed an interest in the project.
The Simaisma development will also add to Qatar’s beachfront resorts. Qatar has 39,000 hotel rooms, but only 10% of them are beachfront.
“We’re not competing with anybody in the region,” he said. “We are introducing a new product that’s not available elsewhere, along with all its amenities and services all together in one location.”
