Qatar’s Construction Market: A World of Opportunities
ifpinfo, 15 March 2016
New studies and reports signal continued evidence of Qatar’s construction growth despite the drop in oil prices, driven by the National Vision (QNV) 2030 – the country’s economic diversification policy – as well as the rapid approaching deadline for the 2022 FIFA World Cup now officially revitalized after the FIFA presidential elections.
Qatar has set the benchmark for the construction industry in terms of quality and number of contracts awarded in infrastructure. It is currently poised for an extended period of even more heightened activity maintaining a steady growth driven by the government’s long-term economic development plan QNV 2030. Qatar’s investment on infrastructure is anticipated to reach about USD $150 billion over the next few years leading up to the 2022 FIFA World Cup, and in line with Qatar’s development plan, according to a report published by First Qatar Real Estate Development Company.
In this context, Qatar is considered to be Middle East’s most reliable economy to attract foreign investments and businesses due to its abundance in terms of natural wealth, and its clear openness for attracting foreign investment. It also has one of the world’s most comprehensive and ambitious economic development and infrastructure programs.
According to Qatar Investment Fund, Qatar is projected to witness a super-normal pace for the next 5-7 years, having already validated a huge boom in the construction sector resulting in a large number of infrastructure projects. This includes USD20 billion investment in roads; USD40 billion investment in railways; USD4 billion investment in stadiums; USD8 billion investment on a deep-water seaport; and about 10,000 hotel rooms to be built in the upcoming years. The country has set an investment program which includes more than 700 individual projects of more than USD30 billion to be implemented. This will make Qatar capable of hosting Qatar 2022 and meeting the needs of growth beyond the Fifa World Cup.
Project Qatar (PQ), IFP Qatar’s annual exhibition, aims to support the construction sector in Qatar, giving local and international traders in-depth insights into the latest products and services in the field of construction such as new building materials, heating ventilation & cooling (HVC), mechanical electrical & plumbing (MEP), heavy equipment, stone technology, construction tools and technologies, interior design, security and safety systems, contracting, trading and many others.
The 4-days exhibition that will be held from 9 to 12 May, will bring together hundreds of manufacturers, suppliers and industrial professionals from Austria, Bangladesh, Belgium, Canada, China, Cyprus, Czech Republic, Denmark, Egypt, France, Germany, Greece, Hong Kong, India, Iran, Italy, Jordan, Malaysia, Malta, Morocco, Oman, Pakistan, Poland, Portugal, Qatar, Romania, Serbia, Singapore, Slovakia, South Korea, Kuwait, Spain, Thailand, The Netherlands, Turkey, UK, Ukraine, USA and UAE . They will share their ideas and experiences in the field of construction, while building strategic collaborations and partnerships.
“The country’s construction sector appears poised to continue its growth towards the 2022 FIFA World Cup, said IFP PQ Project Manager Mr. Rawad Sleem, adding, “Project Qatar will continue to contribute year after year aided by the strong support of the Qatari government, yielding value to the construction industry in Qatar and beyond. For this year we have already registered a record number of strategic partners and sponsors such as: “Gulf Organization for Industrial Consulting”, “Ministry of Municipality and Environment”, “Qatar Society of Engineers” “Al Srayia Holding Group”, “ASTM International”, “Bitumode Qatar, “Art Glass”, “Gulf Crafts”, “Airlink”, “Palmera”, “Al Taadhod” among many others who are eager to be a part of the construction industry through Project Qatar”. We are also very proud to announce that Project Qatar now bears the industry-wide stamp of approval for tradeshow authenticity and effectiveness, UFI accreditation. This is regarded as a solid indicator of a show's popularity, service quality and level of internationalism. Project Qatar is the first exhibition in Qatar to be associated with UFI; UFI is the association of the world’s leading tradeshow organizers and fairground owners.
Mr. Sleem also discussed about Project Qatar’s educational side stating, “When organizing Project Qatar we aim to promote the educational side of the industry along with the commercial one, so this year we will be organizing several workshops along with the support of “Qatar Chamber of Commerce” following the same line of bodies which we did last year such as: “Supreme Committee for Delivery and Legacy (SCDL), Qatar Development Bank (QDB), ASHGHAL, Hamad Medical Corporation (HMC), Gulf Organization for Industrial Consulting (GOIC) and British Standards Institution Group Middle East WLL”.
He continued by mentioning an improved feature in this year’s edition of the exhibition, PQ’s B2B platform. “The B2B Matchmaking Platform is designed for professionals to meet exhibitors that match their products and work profile. To ensure the quality of this essential element of the exhibition, we have enlisted one of the top international experts in the field of B2B platforms the Canadian company “B2B2GO”. With their unique platform environment, we are confident that Project Qatar will feature the ultimate business networking solution that’s high-end, hands-on, and designed to optimize the user’s experience during the event.
Mr. Sleem concluded by urging all industry professionals to attend PQ: “Registration for Project Qatar is now open, and it is free of charge. This is the show to visit and keep up to date with the field of construction; Engineers, Consultants, Contractors, Architects, Interior designers and Procurement Managers should register now to visit Project Qatar and avoid the cue. This year it’s taking place in the convenience of Downtown Westbay at the Doha Exhibition and Convention Center (DECC) between 9 and 12 May with new operating hours from 2pm to 9pm. I look forward to seeing you all there!”
For more information, visit www.projectqatar.com