DOHA, Qatar, June 27, 2024 /PRNewswire/ -- His Excellency the
Prime Minister, Minister of Foreign Affairs, Sheikh Mohamed bin Abdulrahman bin Jassim Al Thani,
launched today, Smaisma Project, the latest project by the Ministry
of Municipality which will be managed by Qatari Diar Real Estate
Investment Company. Upon completion, the project is expected to
become a new urban landmark in the country, adding to the growing
list of unique tourist destinations along Qatar's coast.
Speaking at the launch, His Excellency Abdullah bin Hamad bin
Abdullah Al Attiyah, Minister of Municipality, stressed the
importance of collaboration between partners in the public and
private sector to continue and reinforce the growth trajectory that
Qatar has been witnessing. "As we
move steadily towards achieving Qatar National Vision 2030, we are
building a future more prosperous and stable for future
generations, economically, socially and environmentally. We look
forward to enriching the tourism sector with more projects that
meet the needs of this vital industry."
Eng. Ali bin Mohamed Al-Ali, CEO
of Qatari Diar Real Estate Investment Company, expressed his pride
in the trust awarded to Qatari Diar by the Ministry of Municipality
to manage the project, stating, "This latest project has been
planned under the umbrella of the Ministry of Municipality and in
line with the path of continued economic growth pursued by the
State of Qatar. This project will
set a new standard for tourism in the region and write a new and
exciting chapter in Qatar's
ongoing success story."
He continued, "The Qatari real estate market is valued at
US$485 billion in 2024, and attracts
the most foreign direct investments after the energy sector. This
industry has witnessed notable growth in the past few years, driven
by an increase in demand on residential and retail spaces, growth
in visitor numbers, Qatar's
hosting of mega events and development in the business and trade
sector."
The Smaisma Project will span eight million square metres, and
extend along seven kilometres of pristine beachfront on
Qatar's eastern coast, in the area
known as Smaisma Beach, providing novel tourist and entertainment
experiences to the people of Qatar
and its visitors.
The project provides promising investment opportunities, with 16
tourism zones available for development by the private sector,
including resorts spread out over four zones each with a unique
design and character. In addition, the project will feature a
large-scale theme park, 18-hole golf course, residential villas, a
yacht marina, as well as luxury restaurants and retailers.
Sustainability will be a fundamental pillar of the project, with
reliance on smart construction systems, the use of local and
recycled materials, as well as the latest in construction
technology.
Considered an integrated tourism development, Smaisma Project
will open up promising investment opportunities for real estate,
development and tourism companies, encouraging foreign direct
investments.
Qatari Diar has 50 investment projects under development in 20
countries around the world, combining an investment value of around
US$35 billion. The company seeks to
provide investment opportunities for both local and foreign real
estate developers in many of its projects around the world.
The company has also contributed significantly to the growth of
Qatar's real estate sector though
pioneering projects, including Lusail City, one of the largest
smart and sustainable cities in Qatar.
Qatari Diar's vision is to consolidate its position as a real
estate investment company with the highest levels of trust,
credibility and efficiency, while harnessing its energies and
capabilities to provide sustainable development of high quality,
careful planning and the use of innovative methods in the world of
real estate.
Media Contact: Peiwen
Zou; Peiwen.zou@ogilvy.com; 44103000
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