Rixos Hotels Bets on Gulf Boom With $3 Billion Qatar Project

The Turkish owner of the Rixos Hotels is expanding beyond Europe and Central Asia to bet big on the Gulf with a $3 billion investment in Qatar’s capital.

The firm will build hotels, an amusement park as well as some residential and retail properties on beach-front land north of Doha, Chairman Fettah Tamince said in an interview. They will be part of Qatar’s mammoth Simaisma tourism development and the investments will be made over the next three to four years.