Qatar Manufactured Homes Market Size

Qatar Manufactured Homes Market Analysis

Qatar's Manufactured Homes Market is USD 463.2 million in the current year estimated to register a CAGR of over 6% during the forecast period.

• The market is driven by the huge demand of tourists and businessmen reaching the country due to several international events. Furthermore, the market is driven by diversifying the economy of the country to accommodate more foreign nationals.
• Qatar's construction industry is dedicated to meeting the growing demand for public services, and as such, it is looking for new ways to deliver infrastructure and real estate. This demand is being fueled by government funding and reimagined ecosystems that assist construction companies in finding mutually beneficial partnerships and shared investments that can help them reduce emissions faster. In recent years, there has been a significant push for sustainable practices in the Qatar construction sector, which has been incorporated into a number of large-scale state-owned construction projects. The industry as a whole has established new benchmarks and highlighted a few fundamental strategies that must be implemented more effectively. As investors and developers prioritize sustainability outcomes, it is critical for construction industry stakeholders to help align project teams with their sustainable and commercial agendas.
• Modular construction is still in its early stages in Qatar. However, multiple commercial modular projects have been completed in Qatar over the last five years, and the sustainability benefits are obvious. The benefits of modular construction are numerous; it consumes less energy, wastes fewer materials, and produces significantly lower transportation emissions. It necessitates far less rework as a result of more standardised and efficient processes. Property technology (PropTech) is an important tool that can supplement Qatar's vision of sustainability through real estate while also accelerating the industry's growth. It is an area that should be researched further. The real estate industry has a long history of being resistant to digital disruption, but this approach is no longer appropriate in an era when agility has become a key competency for industries around the world.
• Qatar has shifted its emphasis to diversifying its economy through localization and the creation of local attractions. Visa-free entry was granted to nationals of 88 countries, which, combined with the fact that Qatar is only a 6-hour flight away for 80% of the world's population, has contributed to Qatar's reputation as one of the world's most open countries. Qatar's emphasis on hospitality is at the forefront of the country's tourism expansion plans, particularly in the run-up to the FIFA-2022 World Cup. Several other events, such as the FIFA 2021 Arab Cup, the ExxonMobil Tennis Open, and a number of international exhibitions, such as Christian Dior's 'Designer of Dreams' exhibition and Jeff Koons' exhibition, have boosted the country's tourism industry.