Press release
Construction in Qatar - Key Trends and Opportunities to 2022
Qatars economy has largely recovered from a boycott imposed in June 2017 by other Arab states, and economic growth returned to positive territory in 2018. Construction activity remains resilient, as government spending has continued on projects, despite a sharp downturn in the residential real estate market that was exacerbated by the boycott. Timetric expects to see strong growth in construction activity in 2018.
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The governments aim to diversify the economy, with a particular emphasis on non-oil sectors, will drive funding towards construction projects over the forecast period (20182022). In addition, government efforts to enhance regional connectivity by focusing on the development of the countrys transport infrastructure will support the industrys growth. Furthermore, construction work related to the 2022 FIFA World Cup will support the forecast-period growth of the industry.
Growth will also be driven by the countrys National Vision 2030, under which the government aims to develop the manufacturing industry with an aim to diversify the economy away from its dependence on the oil and gas sector.
The industrys output value rose at a compound annual growth rate (CAGR) of 17.77% during the review period (20132017), in real terms, and is expected to grow at 15.13% over the forecast period.
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Summary
Timetrics Construction in Qatar Key Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into the Qatari construction industry, including:
The Qatari construction industry's growth prospects by market, project type and construction activity
Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Qatari construction industry
Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
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Scope
This report provides a comprehensive analysis of the construction industry in Qatar. It provides:
Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in Qatar, featuring details of key growth drivers.
Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
Listings of major projects, in addition to details of leading contractors and consultants
Reasons To Buy
Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies.
Assess market growth potential at a micro-level with over 600 time-series data forecasts.
Understand the latest industry and market trends.
Formulate and validate strategy using Timetric's critical and actionable insight.
Assess business risks, including cost, regulatory and competitive pressures.
Evaluate competitive risk and success factors.
Key Highlights
Timetric expects the energy and utilities construction market to retain its leading position over the forecast period, with a share of 30.4% of the industrys total value in 2022. In 2017, the government announced a plan to invest QAR14.0 billion (US$4.0 billion) to build 2.7GW of new power plants and 63.0 million gallon of drinking water facilities by 2023.
Under the National Vision 2030, the government also plans to spend QAR45.5 billion (US$12.5 billion) to build affordable houses across the country by 2022. Under this, in 2017, the government announced plans to build 10,000 affordable houses with the help of private partner in an area of Lusail, Pearl and in north and south Doha by 2020.
Timetric expects the infrastructure construction market output to record a forecast-period CAGR of 19.38% in nominal terms, driven by the governments efforts to develop the countrys transport infrastructure. The government plans to invest QAR87.0 billion (US$24.0 billion) on road and rail development to handle tourist arrivals during 2022 FIFA World Cup, while QAR54.0 billion (US$15.0 billion) will be invested in the construction of other transport related infrastructure by 2022.
The government is focusing on the countrys education system, which in turn will support the growth of the institutional construction market over the forecast period. In the 2018 budget, the government increased its spending on the education sector by 18.0%, going from QAR16.1 billion (US$4.4 billion) in the 2017 budget to QAR19.0 billion (US$5.5 billion) in the 2018 budget.
The total construction project pipeline in Qatar as tracked by the Construction Intelligence Center (CIC), including all mega projects with a value above US$25 million, stands at QAR924.1 billion (US$253.9 billion). The pipeline, which includes all projects from pre-planning to execution, is heavily skewed to late-stage projects, with only 27.1% of the pipeline value being in projects in the pre-planning and planning stages as of February 2018.
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