Qatar plans to invest over $200 billion in construction projects by 2022, a recent Deloitte report has found, as the Gulf Arab country gears up to meet the demands of the 2022 World Cup and beyond.

Entitled ‘Insight into the Qatar Construction Market and Opportunities for Real Estate Developers’, the report looks into the Qatari government’s strategy of promoting sustainable tourism with the purpose of attracting more tourists and visitors.

 

Projects such as the Qatar- Bahrain causeway is an example of this strategy, as it will help drive regional tourist arrivals in Qatar. The report also examines Qatar’s plans to invest more than $140 billion into transport infrastructure in anticipation of the 2022 FIFA World Cup.

 

Plans to construct new roads and a metro system have been put forth in order to support the anticipated influx of football visitors in addition to the airport expansion which is already underway.

 

Deloitte experts expect this influx to also bring with it an increased demand for accommodation, with numerous worldwide chain hotels actively considering investments in the country.

 

The Qatar Tourism Authority plans to invest about $20 billion on tourism infrastructure as the number of tourist arrivals grows at a rate of 15.9% compounded annually, to reach 3.7 million by 2022.

 

This growth also creates opportunities for the development of commercial units, such as various shopping malls around Qatar.

 

“With the world focused on Qatar’s every move, it is imperative that the local industry prepares itself for the plethora of international organizations that are ready to descend on Doha. Preparing for the competition is as important to everyone on the built environment, as it will be when the games start,” says Jesdev Saggar, Managing Director, Infrastructure & Capital Projects at Deloitte Corporate Finance Limited.

 

Environmental sustainability has become a key item in the government’s agenda. One of the key goals for the Q2022 program is to improve environmental sustainability, not only limited to the event but also for the entire country.

 

The Deloitte report suggests that the program may deliver a new environmental sustainability standard and improve nationwide awareness.

 

Deloitte GCC Powers of Construction Report highlights the case of Qatar, whereby Qatar was the third most active GCC construction market in 2012, with $10.4 billion worth of contracts awarded. Transport infrastructure dominated Qatar’s construction sector, with four of the five biggest contracts awarded for major transport projects.

 

“With significant investment in major infrastructure programs increasing over the coming years across the GCC, contractors, consultants and clients alike need to rethink the way they engage each other if they are to truly realize the benefits each can bring to the process,” said Cynthia Corby, audit partner and leader of the Construction Industry for the Middle East.

 

 

11 July 2013 | Gavin Davids

UAE أخبار

Qatar and UAE among world top infrastructure markets

Qatar and UAE among world top infrastructure markets - EC Harris General ME

 

According to a new consultancy EC Harris, Qatar and the UAE have been named in the world's top four markets for investing projects.

Qatar to invest $200bn into construction by 2022

Qatar plans to invest over $200 billion in construction projects by 2022, a recent Deloitte report has found, as the Gulf Arab country gears up to meet the demands of the 2022 World Cup and beyond.

Food sales to exceed $70 billion in Saudi Arabia

Food sales in Saudi Arabia are expected to be worth almost $70 billion by 2016, with food consumption growing at a CAGR of 2.6 per cent from 2012 to 2017.

Saudi Arabia is the region’s biggest food consumer and, according to Alpen Capital, will account for 60 per cent of total consumption by 2017.


While Saudi Arabia is also the region’s largest food producer, representing 74.1 per cent of total production in the GCC, it imports more than $14.2 billion worth of food and beverage products each year to meet its consumption demands. According to BMI’s recent Q1 2013 report this will rise to $35.2 billion by 2020.

Dubai's Bid for Expo 2020 in numbers

20 million visitors are expected to make 33 million trips to the site

Ashghal to award $329.5 million contracts for healthcare projects

Qatar’s Public Works Authority (Ashghal) announced on Wednesday that it would award work contracts worth $329.5 million for seven major projects, including new health centres and additional operation theatres at the Hamad General Hospital.

 

The projects are part of Ashghal’s ambitious $3.90 billion plans for 2013/2014 to develop 124 building projects across Qatar, a report in Gulf Times, a local Doha based newspaper, said.

 

Construction in Qatar to grow by 19%

The Middle East's construction sector, including Qatar, has been forecast to grow by 19 percent in 2013, with the combined value of completed projects set to reach $81.6bn. And projects worth $64.5bn are set to be awarded before the end of the second half of the year, according to Aldes Middle East, a leading provider of firefighting and ventilation solutions. Given Qatar's immense growth potential of the construction and real estate sector, the company has stepped up its expansion initiative with the planned opening of a new office in Doha.

ifpinfo

5 September

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