Zafir Rashid unveils $1.5B vision for Orlando destination
SpongeBob themed signature suite at Everest Place, Orlando.
A new $1.5 billion master-planned district is taking shape in Orlando, led by developer Zafir Rashid.
The resort, developed in collaboration with Paramount and Lionstar Hospitality, features over 400 units, combining branded residences and hotel rooms. It will include themed restaurants, a custom-designed water park, and immersive suites inspired by Nickelodeon characters. But for Zafir Rashid, the broader vision is what sets the project apart.
“This isn’t just about a single resort,” Zafir Rashid said. “It’s about creating a long-term destination that brings together global hospitality brands, lifestyle offerings, and community infrastructure.”
Everest Place spans approximately 234 acres of land, with anchors that includes a Walmart Neighborhood Market store and several hotel brands. The site also includes branded residences, restaurants, a scenic boardwalk along the man-made pond, and plans for water taxis and boat docks to enhance mobility within the district.
Texas-based AMSYS Group is a key stakeholder in the project and has played a central role in shaping its overall direction. AMSYS Development, a premier division of AMSYS Group, specializes in innovative and sustainable real estate across residential, commercial, and industrial sectors. AMSYS Group is a leading global firm with over two decades of experience, extending its expertise across multiple business sectors, including Real Estate, Energy, Technology, Finance, Logistics, and Healthcare.
Construction on infrastructure is now complete, and building permits for vertical construction are underway. Zafir Rashid and his team have spent six years coordinating planning, engineering, and entitlements with local authorities.
At full capacity, Everest Place is expected to draw more than 15,000 visitors per day. Restaurants, fitness centers, family attractions, and other retail spaces are being integrated into the development in phases, designed to work both as standalone businesses and as part of a cohesive experience.
Zafir Rashid, now leading Teramir Group, has managed projects across North America and the Middle East. His team includes specialists in design, hospitality, and construction, along with consultants responsible for delivering customized spaces aligned with brand partners.
Mock suites and themed layouts have already been developed and approved by stakeholders, with construction crews prepared to break ground once final approvals are secured.
“What matters most is getting the foundation right,” Rashid said. “Once we go vertical, this becomes one of the most dynamic mixed-use developments in the region.”
Zafir Rashid
Teramir Group
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