By 2030, the Qatari government aims to increase the tourism sector’s contribution to GDP to 12% and attract an annual tourist flow of 7 million visitors. The new megaproject, Simaisma, is set to become one of the primary drivers of tourism in the country.
A Unique Offering Within Qatar
Qatar boasts approximately 39,000 hotel rooms, but only 10% of these are located on the coastline. The Simaisma project will span 7 kilometers of coastal line, significantly expanding the available beachfront developments and capturing a considerable share of the demand for seaside accommodations.
A Feature Attraction: A 160-Acre Themed Park
State-owned developer Qatari Diar is currently in negotiations with several international amusement park operators. The themed park in Simaisma will be slightly larger than Magic Kingdom Park at Walt Disney World Resort, which covers 107 acres.
Real Estate Prospects in Qatar
Sixteen plots of land within the megaproject will be sold to private developers. Developers from Saudi Arabia, the UAE, Turkey, the USA, and Europe have shown interest in the project. In 2023, the cost per square meter in Qatar’s popular areas saw growth rates ranging from 8% to 26%. The average return on investment (ROI) for real estate in Qatar is approximately 5.5–6%.
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