Qatar Infrastructure Sector Market Size

Qatar Infrastructure Sector Market Analysis

The infrastructure sector in Qatar is estimated to record a CAGR of greater than 7% during the forecast period.

• Construction is rising in Qatar, with the government intending to spend more than USD 200 billion as part of a significant infrastructure-building program. It is the state's fastest-growing industry. Under the auspices of Qatar National Vision 2030 (QNV 2030), the sector may continue to dominate economic diversification efforts due to large-scale transportation projects and the rapid growth of tourism, education, and real estate builds. The 2022 FIFA World Cup has set a mid-term deadline for several high-profile projects.
• In the aftermath of such tremendous development, the industry is facing difficulties. In addition to growing labor, material, and transportation costs, the biggest challenges to steady long-term development are late payments, project delays, and cost overruns. However, the government is making an effort to resolve these problems. Next year, the world's largest exporter of liquefied natural gas plans to spend QAR 90 billion (USD 25 billion) on major projects, a 0.6% increase and the largest share of the overall budget.
• Despite the difficulties caused by the COVID-19 outbreak, Qatar is still committed to making sustainable investments in infrastructure, technology, education, and healthcare. Qatar has a strong line-up of infrastructure and hospitality projects for the future. While the Ministry of Finance, in partnership with the Public Works Authority (Ashghal), is working to implement a strategic plan by tying specified performance metrics for new projects, Qatar has selected new projects valued at QAR 54 billion (USD 14.83 billion) in the medium term.