Smaisma Project: Qatar announces mega-entertainment district
Qatar’s GDP grew 1.2% year on year in Q3 2023
In a major push to diversify its economy and attract foreign investment, Qatar has launched an ambitious tourism initiative named the Smaisma Project.
This announcement was made on June 27 at a high-profile event in Doha, where leaders from both the public and private sectors gathered, to unveil this mega-infrastructure plan.
The Smaisma Project, a brainchild of Qatar’s Ministry of Municipality, is set to transform over 8 million square metres, featuring a 7 kilometres of waterfront real estate, that stretches over Qatar’s eastern coastline along Smaisma Beach on the country’s east coast.
Qatar’s Smaisma Project set to rival Disneyland
Managed by Qatari Diar Real Estate Investment Company, this development will include an array of attractions designed to appeal to both locals and international visitors.
Key features of the Smaisma Project include an expansive amusement park, an 18-hole championship golf course, luxury villas, a state-of-the-art yacht marina, and an array of high-end restaurants and retail outlets.
In addition to these attractions, the project will offer 16 dedicated zones for private development, providing ample opportunities for investment in tourism infrastructure.
Qatar’s Minister of Municipality Abdullah bin Hamad bin Abdullah Al Attiyah highlighted the project’s significance, emphasising its role in fostering collaboration between the public and private sectors.
He stated, “We are steadily advancing towards realising Qatar’s national vision 2030, building a more prosperous and stable future for coming generations across the economic, social and environmental domains. We are thrilled to contribute to the growth of the tourism and entertainment sector by spearheading innovative projects that meet the rising demand in this crucial industry.”
Ali bin Mohamed Al-Ali, CEO of Qatari Diar, echoed these sentiments, underscoring the project’s potential to redefine tourism in the region. “We have meticulously planned this project under the guidance of the Ministry of Municipality and in alignment with Qatar’s trajectory of continuous growth. This project will establish new benchmarks for tourism in the region and write a new, remarkable chapter in Qatar’s success story” he said.
Qatari Diar, with 50 projects in development across 20 countries and a cumulative investment value of around $35bn, will lead the development of this entertainment district.
Real estate impact
The broader Qatari real estate sector, valued at approximately $485bn in 2024, has become a magnet for foreign direct investment, second only to the energy sector.
This growth is fueled by increased demand for residential and retail spaces, a surge in visitor numbers, Qatar’s role as a host for large-scale events, and advances in the business and trade sectors.
Moreover, the Smaisma Project will incorporate cutting-edge construction technologies to minimise reliance on unskilled labour and utilise eco-friendly, locally sourced materials. These measures are in line with Qatar’s commitment to sustainable development practices.
This new development aligns with Qatar’s National Development Strategy 2024-2030, unveiled earlier this year. The strategy is focused on expanding the economy beyond its traditional reliance on fossil fuels and fostering greater foreign direct investment.
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