01 August 2014

QATAR’S construction sector is projected to expand by 14.1 per cent this year, up from 13.6 per cent in 2013, and may well accelerate faster in 2015.

The main driver is the government’s heavy investment in economic infrastructure, particularly local roads, expressways, the Doha metro and rail, and drains and sanitation, at a pace that is likely to pick up over 2014 and 2015, according to the Qatar Economic Outlook 2014-15.

The construction of new health centres and education facilities will also entail heavy spending. Private construction activity centred on residential and commercial real estate development, including new malls, hotels and labour accommodation, will also buttress construction growth, the report said.

Growing demand by the construction sector for cement and metals linked to the large capital projects should encourage some investment in new capacity, prompting manufacturing growth to recover some of its earlier impetus.

Citing Qatar Central Bank’s real estate price index data, the report noted the country’s real estate transaction prices at end-2013 were 20.7 per cent higher than a year earlier. While land and building prices continue to appreciate, the average index level for 2013 (180.4) is still 6.1 per cent lower than the index peak of August 2008 (192.2), the report said.

• Lusail LRT project work is on schedule
• Hill International secures Mall of Qatar contract
• Mace wins deal for cultural centre
• Key contracts awarded for Duqm workers facility
• Consortiums to extend bid bonds for Oman rail project
• Hochtief ViCon offers virtual solutions for BIM models
• Major projects to bolster Qatar construction sector
• ‘Green’ school work on target
• Online courses ‘can hone skills’
• Mega Middle East events to spur infrastructure spending
• RMD formwork meets Mall of Egypt challenges
• Update
• Bahrain builds oncology centre
• Napco plans major expansion
• US firm wins reclamation deal
• Market revamp a step closer

Tags

Cranes & Hoists Security & Safety Pipes & Fittings Big 5 Kuwait Turkey Review Just Out Legally Bound Regional News Saudi Focus UAE Focus Events Diary of events Tenders Contractors Real Estate Interiors Facilities Management Manufacturers & Procurement

Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.