By Mark Baber
July 11 – A new report by Deloitte highlights the opportunities for the construction sector in Qatar as the country gears up to spend $140 billion over the next five years in transport infrastructure and over $200 billion in construction projects.
The report, titled “Are you on the bench? Insight into the Qatar construction market and opportunities for real estate developers” serves as a reminder of the opportunities available in Qatar, many of which are directly related to the World Cup 2022 and the need to service an estimated 400,000 fans during the tournament.
The report emphasises that Qatar is investing heavily into becoming a commercial and sporting hub in the Middle East over the next few years, and focusing on attracting more sustainable tourism by improving transport infrastructure and developing attractions.
Successful delivery of a historic FIFA World Cup is seen by the government as important in this respect as it is leaving a legacy for Qatar in terms of football, infrastructure and economic development.
According to the report: “In anticipation of the FIFA World Cup in 2022, Qatar plans to invest over $140 billion over the next five years in transport infrastructure to transform Qatar. Investments in constructing a new airport, roads and a metro system have been planned as part of supporting an anticipated influx of visitors for the World Cup as well as leaving a sustainable legacy for Qatar.”
Deloitte emphasises the opportunities in construction of affordable residences, with “Qatar planning to invest over $200 billion in the next 10 years in construction projects signalling immense opportunities for real estate developers”
The report also emphasises the opportunities in tourism as 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 3.7million by 2022.” An estimated 90,000 rooms will be required for the World Cup.
Deloitte quote MEED’s Qatar Megaprojects 2013 report which examined the top 20 megaprojects in the country, which found the actual building of the World Cup Stadiums is only 15th in the list of projects by value in Qatar in the build-up, behind (in order of value) the construction of Lusail City; the Qatar Integrated Rail Project; Hamad International Airport, Local Roads and Drainage Scheme; Barzan Gas Development; Barwa City Development; Doha, Lusail and Dukhan Highways; Education City; Ras Laffan Complex; New Doha Port; Pearl-Qatar; Ras Laffan Olefins Project; Msheireb and the Transmission Project but ahead in the top 20 list of the Inner Doha Re-sewerage Implementation Strategy; Al-Waab City; Doha Festival City; Al-Jawhara City and Barwa al-Baraha.
Quoting Meed, an estimated of $168bn (87%) of remaining work on these projects is yet to be awarded.
The report also focuses on environmental sustainability which “has become a key item in the government’s agenda.” and which will certainly provide some major challenges as the 2022 World Cup aims to become the first carbon-neutral world cup.
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