Qatar Construction

What is unique about Qatar is not that it is among the fastest growing nations in the world or that it has vast reserves of natural gas that have helped its expansion and diversification plans in recent years, but that it has managed to withstand the downturn through its strong economic fundamentals and a prudent mix of fiscal policies supporting a relatively small population of which a large proportion are expatriates.

Its construction industry has received a massive fillip from the largely government backed projects and planned diversification projecting Qatar as a global tourist destination along with smart easing of controls on foreign ownership of freehold property to lure the global investors to aid its investment and diversification programmes. The construction industry of Qatar witnessed construction contract awards to the tune of US$20,210 million in 2010, which is expected to increase to US$ 22,149 million by 2012.

2022 FIFA World Cup

The announcement that Qatar will host the 2022 FIFA football World Cup tournament is expected to spur significant investments to spill over to its Construction market. This presents an extended opportunity for global investors and companies involved with construction, property and infrastructure development to assess the potential in investing within this highly stable economy. It is estimated that Qatar will invest around US$ 60 billion to US$ 70 billion in hotel, leisure, tourism, sports, recreational and infrastructure projects as it prepares to host the FIFA World Cup in 2022.

Traditional markets with huge construction activities in all fields, such as Qatar, are and will be idle for a lot of years to come, considering the lengthy economic recovery process which will naturally follow the present inability of the market to absorb and initiate new constructions. This is a huge market segment and it is a fact that the big and always highly expensive local companies, will not take or show interest in small and medium size projects. However, the main fact is that there is great demand from a fast developing and growing market with high purchasing power.