Research and Markets: Construction in Qatar - Key Trends and Opportunities to 2017
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/kd535d/construction_in) has announced the addition of the "Construction in Qatar - Key Trends and Opportunities to 2017" report to their offering.
“Construction in Qatar - Key Trends and Opportunities to 2017”
The Qatari construction industry recorded a review-period CAGR of 0.07%. The government has invested considerably in developing the country's tourism, education and infrastructure, which led to growth in the industry. However, growth was hampered by the impact of the financial crisis, which reduced the demand for residential and commercial construction projects due to a lack of confidence among private investors. The outlook for construction is favorable, as a result of Qatar hosting the FIFA 2022 World Cup, resulting in the government's focus on infrastructure and residential construction. The industry's output is expected to record a CAGR of 5.50% over the forecast period.
- Growth in the construction industry has been strong since the second quarter of 2012. In real terms, output expanded by an average of around 11.0%, from 9,543 in the second quarter of 2011 to 10,635 in the second quarter of 2012. The outlook is also positive, with the government's five-year development plan for the country supporting the construction industry by allocating QAR455 (US$125 billion) for development projects during 2011-2016. Of the total, QAR236.6 billion (US$65 billion) will be spent on infrastructure projects, and the remaining QAR218.4 billion (US$60 billion) on residential, commercial and LNG construction projects.
- The 2022 FIFA World Cup is expected to be a key driver for industry growth over the forecast period, with a number of infrastructure projects expected to be undertaken by the government in preparation for the event. The government plans to spend QAR580.8 billion (US$160 billion) on these projects, representing 40% of its 2012-2016 infrastructure projects budget.
- The government is also undertaking three large-scale railway projects over the forecast period: the metro rail network in Doha, the over ground railway service to cover the entire country, and the Gulf Cooperation Council (GCC) railway project. The combined cost of these rail projects is expected to be QAR133.5 billion (US$36.6 billion). The projects are expected to support the expansion of the construction industry over the forecast period. In addition, Doha is set to construct a new port to the value of QAR1.01 billion (US$301 million). Hyundai Engineering and Construction announced in August 2013 that it had won a share of the project, valuing QAR677 million (US$186 million), with work expected to be completed in 30 months. A QAR4.5 billion (US$1.23 billion) contract to dredge the approach channel was awarded to the Middle East Dredging Company.
- Construction growth will also be driven by the Qatar National Vision 2030, through which the country looks to become a developed nation by diversifying its economy, achieving sustainable development and providing a high standard of living for its population. The government plans more than QAR237 billion (US$65 billion) on infrastructure spending until 2016, with investments by Barwa and Qatar Diar for residential and business construction projects, and also by the Qatar Foundation with Sidra Hospital and Education City in health and education.
Key Topics Covered:
Company Profile: Khayyat Contracting & Trading
Company Profile: Medgulf Construction Company (WLL)
Company Profile: Qatar Engineering & Construction Company WLL
Company Profile: HBK Contracting Company WLL
Company Profile: Bilfinger Berger Qatar WLL
Market Data Analysis
List of Tables
List of Figures
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