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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SOURCE Qatari Diar