Construction in Qatar grows to $1.7bn in Q1 2011
From $1.5bn in Q3 2010 to $1.7bn in Q1 2011, growth of 28% in Q1 alone
Qatar’s construction industry has grown from $1.5bn in Q3 2010 to $1.7bn in Q1 2011, reported Qatar’s Statistics Authority (QSA).
The report revealed that the regional construction industry, which slowed across the Middle East in 2008 due to the downturn, is now playing a significant role in contributing to Qatar's economic growth - which has surged by 28% in the first quarter of 2011 alone.
The report comes as construction companies, architects and developers across the world eagerly await the announcement of infrastructure projects that will see Qatar's landscape evolve.
Infrastructure projects in line with Qatar's National Vision 2030 and National Strategy 2011-2016 are expected to be announced throughout 2011 and 2012, which also bolster its infrastructure for the 2022 FIFA World Cup.
“It is an exciting time in Qatar at the moment, with many developers, consultants and architects preparing themselves for the tendering of mega projects that will help Qatar to deliver its national strategy. Excellent project management skills and a clear vision will help Qatar realise its World Cup dream in time for 2022,” said IQPC divisional director Chris Corander.
IQPC has announced its Qatar Construction Summit and Awards, a four-day event which profiles international case studies on stadium design, construction best practice and infrastructure development ready for the release of Qatar's projects.