This research paper aims to form and estimate the spatial dynamic panel simultaneous equations models (SDPS) with fixed time effect that potentially have heteroscedasticity cases. The model formed with the individual effect is not eliminated but placed in the error model to accommodate cases of heteroscedasticity in the model. GMM with two stages least square (2SLS) method for the single equation is deliberately chosen as the estimation method for the SDPS model because it can eliminate heterogeneity cases in the model. The effectiveness of the estimate is seen based on the value of RMSE (Root Mean Square Error), mean and standard deviation (SD) of bias estimate by simulating Monte Carlo 100 times with different parameter pairs and different pairs N and T can also be concluded that parameter scenario changes do not give much effect on the mean bias value and SD bias. The SDPS model shows that the consistency of the estimated parameter values can be achieved easily if the number of T is added. Changes in the number of N and T indicate that the greater the N and T, the smaller RMSE value tends to be.