Qatar Residential Construction Market Size

Qatar Residential Construction Market Analysis

The Qatar Residential Construction Market size is estimated at USD 12.39 billion in 2024, and is expected to reach USD 21.32 billion by 2029, growing at a CAGR of 11.45% during the forecast period (2024-2029).

• COVID-19 negatively impacted the Qatari residential construction market. Many residential projects were delayed or canceled due to COVID-19.
• One of the most prosperous economies in the Middle East is Qatar. High GDP growth, population growth, job opportunities, and governmental regulations are all driving the country's residential construction market forward.
• Qatar is working on a wide range of infrastructure and industrial projects because it wants to host the Asian Games in 2030, is committed to its National Vision 2030, and has promised to host the 2022 FIFA World Cup. The current Emir, who has been in charge since July 2013, is putting the Second National Development Strategy into action to help the country's people.
• The high net worth of the average Qatari citizen and expat has a big effect on the building industry and makes more people want to live in luxurious, well-planned neighborhoods.
• In the medium- to long-term, it is expected that the rate of population growth will lead to more demand because there will always be more foreign workers than there are jobs. In response to the increased building activity in the industry, the Qatari government has recently made a number of changes to the law that are meant to protect the interests of people who invest in residential buildings.
• The housing project's construction was on schedule to be complete by the end of 2022. The project will also have 49 separate villas that can be bought as investments. Each villa has two floors, a basement, a penthouse, a private pool, and parking spots.