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The Qatar Construction Market is segmented by Type (Commercial Construction, Residential Construction, Industrial Construction, Infrastructure (Transportation) Construction and Energy and Utilities Construction).
2016 - 2026
The Qatari construction market is expected to register a CAGR of more than 8% over the forecast period, 2020-2025. Qatar is expected to be among the fastest-growing global construction markets during the forecasted years, with robust growth forecasts as the government works to meet its significant infrastructure requirements. The country’s construction industry is expected to benefit from investments made in preparation for the 2022 FIFA World Cup and Qatar National Vision 2030.
The construction sector will be primarily driven by public investment into the country’s transport and commercial construction sectors. The main trends in the construction sector remain to develop Qatar’s transport infrastructure, create a modern residential and hospitality environment to support the predicted increase in population and to create a range of world-class sporting venues.
Despite potential headwinds stemming from the decline in regional political relations, the outlook for Qatar's construction market is exected to remain bright in the forecast period. The government has also committed to the improvement of greater health and education services and is keen to develop the tourism market, which creates a wide range of opportunities in the construction sector.
The Qatari construction market covers the growing construction projects in different sectors, like commercial construction, residential construction, industrial construction, infrastructure (transportation construction), and energy and utility construction. Along with the scope of the report also segmented by type of the construction like by fencing, additions and new building. The report also includes a detailed analysis of the impact of COVID-19 on the market.
|Infrastructure (Transportation) Construction|
|Energy and Utilities Construction|
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The construction sector is one of the fastest-growing sectors in Qatar, with the government planning to spend over USD 200 billion, as part of its infrastructure investment. Major transport projects, coupled with the rapid expansion of tourism, education, and real estate, are expected to dominate economic diversification efforts under the auspices of Qatar National Vision 2030, while the 2022 FIFA World Cup has set a mid-term deadline for a number of high-profile projects.
Growth in the sector is largely driven by public expenditure, with major reserves and budget surpluses allowing the state to finance many projects directly, rather than seeking public-private partnerships. Contracts are awarded by the Central Tenders Committee (CTC), which was established in 2005 to handle all government projects and requests from ministries and other government agencies, as well as Ashghal (the Public Works Authority), Qatar General Electricity and Water Corporation (Kahramaa), and Qatar Foundation. Qatar also is investing heavily in developing infrastructure and construction projects, with USD 220+ billion to be invested in road network, stadiums, facilities, and numerous major projects including hotels, leisure, and recreation in the planning or construction phase.
Qatari Diar remains the largest project client in Qatar, in terms of the value of projects in execution, and its USD 17 billion mixed-use Lusail City is still considered to be one of the largest projects in the country. Other major projects include the:
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Under the Qatar National Vision 2030, the country in 2018 announced the investment of an estimated USD 85 billion worth of planned projects in the coming years. Out of these proposed projects (but unawarded), in 2020, about USD 9.1 billion worth of projects are under study, while about USD 31.7 billion worth of projects are at some stage of tendering, and USD 44 billion projects are in the designing stage. About USD 12.1 billion worth of projects is planned or underway in the oil and gas project market. Upstream projects account for the lion's share (about 55%) of the country's oil and gas projects. Qatar’s ten biggest construction clients together have about USD 55.1 billion worth of projects in execution with Qatari Diar topping the list with about USD 18.5 billion of projects under construction.
According to industry experts, 64% of GCC construction contractor awards in 2019 are based in the UAE and Saudi, contributing USD 48.3 billion and USD 40.1 billion respectively to the total sum of new projects for the year. As of May 2019, in the UAE, buildings like residential & commercial, airports, sports facilities and recreational facilities, healthcare, and education, hold the lion’s share of new contractor awards in 2019, valued at USD 29.9 billion followed by infrastructure (USD 5.1 billion), and energy (USD 13.2 billion). Qatar has the next highest contracts awarded with value of more than USD 17 billion.
Due to implementation of different measure to contain the coronavirus, the construction sector is certainly heavily affected with the reduction in activity and investments. The construction industry is expected to rebound with high year-on-year growth rate with the conditions expected to return to normalcy in the second half of 2020 in terms of economic activity and freedom of movement.
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The Qatari construction market is fragmented in nature with the presence of local and regional players. Some of the key players in the market include QD-SBG Construction, Gulf Contracting, HBK Contracting, and AlJaber Engineering, amongst others. Qatar has been hosting qualitative events involving major real estate developers across the world, which enable it to conclude construction and real estate related partnerships with prestigious international bodies and attract investments from major international companies and groups. Major and specialized companies have witnessed unprecedented stability and growth in the Qatari construction market. By opting to be a regional leader, the country has undertaken large-scale infrastructure projects of various types and opened participation of international companies.
In terms of services, many construction service providers and facility management companies are in the race to enter the Qatari market. Companies are partnering with developers to offer after construction services. As towers, low-rise buildings, stadiums, and malls get built and are near completion, the country’s facility management market is expected to grow exponentially in the coming years.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Current Economic and Construction Market Scenario
4.2 Technological Innovations
4.3 Government Regulations and Initiatives
4.4 Mapping of Industrial Clusters and SEZs and a Brief Analysis of Investment Opportunity
4.5 Review and Commentary on the Extent of Qatar's Economy Diversification
4.6 Comparison of Key Industry Metrics of Qatar with Other GCC Member Countries
4.7 Comparison of Construction Cost Metrics of Qatar with Other GCC Member Countries
4.8 Real Estate Prices (sales and leasing) by Asset Classes (residential, commercial, retail)
4.9 Insights on Building Permits in Qatar by type and Municipality
4.10 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.4 Porter's Five Forces Analysis
5.5 Industry Value Chain Analysis
6. MARKET SEGMENTATION AND ANALYSIS
6.1 By Type
6.1.1 Commercial Construction
6.1.2 Residential Construction
6.1.3 Industrial Construction
6.1.4 Infrastructure (Transportation) Construction
6.1.5 Energy and Utilities Construction
7. COMPETITIVE LANDSCAPE
7.2 Company Profiles
7.2.1 QD-SBG Construction WLL
7.2.2 Gulf Contracting Co. WLL
7.2.3 Qatari Diar Vinci Construction (QDVC) QSC
7.2.4 HBK Contracting Co. WLL
7.2.5 AlJaber Engineering WLL
7.2.6 Redco Construction - Almana
7.2.7 Boom Construction Co.
7.2.8 UrbaCon Trading & Contracting WLL
7.2.9 PORR AG
7.2.10 Besix Group
7.2.11 MIDMAC Contracting Co. WLL*
7.3 Other Key Companies
8. INVESTMENT ANALYSIS
9. INSIGHTS ON MAJOR INFRASTRUCTURE DEVELOPMENT PROJECTS (Projects Awarded, Selected Future Projects, Key Construction Companies and Contractors, Key Construction and Infrastructure Clients, etc.)
10. FUTURE OF CONSTRUCTION SECTOR IN QATAR