Qatar’s Construction Market

Qatar’s Construction Market
A World of Opportunities

New studies and reports signal continued evidence of Qatar’s construction growth despite the drop in oil prices, driven by the National Vision (QNV) 2030 – the country’s economic diversification policy – as well as the rapid approaching deadline for the 2022 FIFA World Cup now officially revitalized after the FIFA presidential elections.

Qatar has set the benchmark for the construction industry in terms of quality and number of contracts awarded in infrastructure. It is currently poised for an extended period of even more heightened activity maintaining a steady growth driven by the government’s long-term economic development plan QNV 2030. Qatar’s investment on infrastructure is anticipated to reach about USD $150 billion over the next few years leading up to the 2022 FIFA World Cup, and in line with Qatar’s development plan, according to a report published by First Qatar Real Estate Development Company.

In this context, Qatar is considered to be Middle East’s most reliable economy to attract foreign investments and businesses due to its abundance in terms of natural wealth, and its clear openness for attracting foreign investment. It also has one of the world’s most comprehensive and ambitious economic development and infrastructure programs.
According to Qatar Investment Fund, Qatar is projected to witness a super-normal pace for the next 5-7 years, having already validated a huge boom in the construction sector resulting in a large number of infrastructure projects. This includes USD20 billion investment in roads; USD40 billion investment in railways; USD4 billion investment in stadiums; USD8 billion investment on a deep-water seaport; and about 10,000 hotel rooms to be built in the upcoming years. The country has set an investment program which includes more than 700 individual projects of more than USD30 billion to be implemented. This will make Qatar capable of hosting Qatar 2022 and meeting the needs of growth beyond the Fifa World Cup.

Project Qatar (PQ), IFP Qatar’s annual exhibition, aims to support the construction sector in Qatar, giving local and international traders in-depth insights into the latest products and services in the field of construction such as new building materials, heating ventilation & cooling (HVC), mechanical electrical & plumbing (MEP), heavy equipment, stone technology, construction tools and technologies, interior design, security and safety systems, contracting, trading and many others.