This Gulf country is giving away $200 billion...just for construction projects!
With more than $200 billion worth of major projects due to be awarded in the years to 2030, Qatar remains one of the three top markets for companies doing business in and with the Middle East region, said an expert ahead of a key construction summit.
The 'Qatar Projects 2014,' a premier annual conference focusing on development solutions to Qatar’s megaproject challenge, will be organised by Meed from March 18 to 19 at the Grand Hyatt Hotel Doha.
The event will present a comprehensive review of the massive opportunities at stake, and provide international and regional stakeholders in-depth and fresh insights from key government agencies, said the organisers Meed, a leading business intelligence firm, which has been hosting the event for the past 10 years.
Sheikh Abdullah Saoud Al-Thani, Governor, Qatar Central Bank will deliver the keynote address at the conference.
Edmund O’ Sullivan, the chairman of MEED Events, said:"We are at the start of an era that will see the award of a series of massive construction contracts across Qatar’s infrastructure, transport, energy and utilities sectors. Qatar is now ranked as the most important project in the Middle East after Saudi Arabia."
Qatar Projects will show which sectors stand to benefit from increased government spending which began accelerating this year and is expected to grow in value beyond $20bn each year for the next decade and a half, he noted.
Already, Meed sees Qatar’s projects marketing having significant activity in 2014 with infrastructure and transport contract awards expected to peak at $24 billion.
Doha alone has a considerable backlog of work to execute between 2014 and 2019, with associated contractor and third party opportunities valued at $90 billion, including $40 billion worth of roads, ports and rail work as well as $19 billion construction projects, stated O’ Sullivan.
In addition, Qatar’s petrochemicals industry offers the most opportunities to international EPC contractors. According to Meed Projects, EPC contracts worth a total of $14.63 billion are in the design and tender phases in Qatar, he added.
To deliver more sector-specific content as well as extended networking opportunities with Qatar’s government and public authorities, Qatar Projects 2014 conference will feature two dedicated tracks; one which covers Qatar’s Infrastructure & Transport sector, and another which focuses on Qatar’s Energy & Utilities sector.
- A burst bubble? Dubai property set to drop in 2015 as currency adds to woes
- Construction meets Sharia: settling disputes the Saudi way
- Six savvy tips for choosing a real estate agent
- 'Selective softening': How Dubai's stabilizing property prices are in no way inclusive
- Abu Dhabi's Louvre: how far has it come and how far will it go?
- The $200 billion boom and slave labour: the realities Qatar must come to terms with
- A collasal loss: $200 billion worth of projects cancelled due to low oil prices
- MEED: World Cup success kicks off US$ 60 billion projects boom in Qatar
- UAE manufacturers helping Emirates to move away from imported goods