Qatar’s USD 5.6 billion real estate market expected to grow 7 per cent in 2010
Qatar’s real estate sector, currently valued at around USD 5.6 billion, is expected to grow by around 7 per cent in 2010 through ongoing and planned multi-billion dollar development projects. The country will maintain its reputation as one of the world’s largest construction markets through internationally-renowned developments such as the USD 5.5 billion New Doha International Airport, the USD 5 billion Al-Khor tourist project, the USD 2.5 billion Energy City, and the USD 2.5 billion man-made Pearl Island.
Construction activities in Qatar are rapidly expanding due to the country’s robust economy, its thriving tourism industry, and its growing property sector. Tourist arrivals are projected to increase by 150 per cent over the next few years and influence a 300 per cent growth in the number of hotel rooms. Even the residential sector is in full swing, with 33,000 homes set to be built through 2012. Project Qatar 2010, the 7th International Exhibition for Construction Technology, Building Materials, Equipment and Environmental Technology, will highlight opportunities within Qatar’s robust construction sector during its four-day run from April 12 to 15, 2010 at the Doha Exhibition Center.
“Qatar’s construction and property sectors have been performing exceptionally well within the downturn, thanks to a stable economy and a good tourism and housing base. This year promises even more productivity as industry sets its sights on post-crisis business. For the past seven years Project Qatar has served as the main entry channel for regional and international investors and developers who want to engage this burgeoning market. The event is set to post a new attendance record as more than 30,000 regional and international visitors are expected to participate this year,” said Michel Gebrael, Project Manager of Project Qatar at IFP Qatar.
Running concurrently with the show is the Qatar Sustainability Conference (QSC), an educative platform bringing together local, regional as well as international speakers to highlight sustainability and green construction issues that directly impact the global environment. In its second edition, QSC will discuss topics including water and energy efficiency, green buildings and all aspects related to environment, sustainability and green construction solutions. Project Qatar will also feature the Heavy Max area, which will be dedicated to heavy machinery and equipments.