Qatar is one of the fastest growing economies in the world as also the world’s third largest producer and supplier of Liquified Natural Gas (LNG) and among the top 20 producers of oil. Armed with a plan to diversify from its dependence on hydrocarbons by prudently investing its vast hydrocarbon surplus into the expansion and diversification of the economy, the economy of Qatar has undertaken a slew of investments at a cost of over US$ 125 billion across core sectors of the economy and embarked on an ambitious plan to put Qatar on the World Map through its successful growth ambitions.
While managing to keep away from the adverse effects of the global economic slowdown and the Arab Spring, it has also won the prestigious bid to host the 2022 World Cup FIFA Football event, which it is preparing for by sprucing up the face of Qatar not only across its stadia and real estate but also through massive upgrades in its existing infrastructure including ports, a new international airport, a railway network, roads and highways of which some are new and some are being upgraded, new hotels and recreation complexes are also being built to house the players, tourists and visitors to the grand event.
The hosting of the World Cup is being viewed as a stepping stone to the long standing vision of the country outlined in its National Vision 2030 to put Qatar on the World map as a leading destination for tourists and investors alike on a sustainable platform which is enviornmentally sound and improves the standards of living of the Qatari citizens at large.
Contracts worth US$ 16,138 million were awarded across construction sectors in 2011 and more are likely to be awarded in 2012 reaching US$ 19,200 million in 2012 and US$ 21,928 million in 2013, respectively as bulk of the projects being readied for the World Cup 2022 event including 9 stadia and infrastructure projects such as the deep sea port, the new international airport due for completion in 2012, the metro and other railway projects, the roads and highways expansion and upgrade projects are all likely to witness contract awards for core and associated projects between 2011 and 2013.
Based on its vast experience of tracking construction markets across the GCC and MENA region, this Ventures Middle East report the “Qatar Construction Industry-Building up for the Kick Off” explores how the winning bid for the World Cup among other factors have helped Qatar speed up its developmental plans to help fuel growth across its construction industry. It also explores the factors shaping the growth of the industry through an analysis of the Political, Social, Economic, Technological, Legal and Regulatory and Environmental factors that govern its growth and the key market drivers and restraints with the help of a probability-impact matrix, to its achieving its full potential.
The report also provides an individual analysis of the key sectors of the Qatar construction industry namely, building construction, infrastructure, oil and gas, power and water desalination and industrial sectors are analysed individually highlighting the main opportunities and challenges faced by each sector in its race toward growth along with vital statistics on the market size and contracts awarded across the industry and its core sectors along with forecasts till 2013.
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Qatar Construction Industry-Building up for the Kick off
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