New Construction market report from Business Monitor International: "Qatar Infrastructure Report Q4 2012"
Boston, MA -- (SBWIRE) -- 01/03/2013 -- There are currently construction and energy projects worth US$150bn in the pipeline, which are being implemented to support Qatar's mammoth 2030 Vision and the 2022 FIFA World Cup. Hence, despite disappointing data for 2011, we remain positive toward Qatar's long term construction sector potential, and believe its construction industry will maintain its position as one of the region's top performing markets in the long-term. With vast hydrocarbon wealth inflating public coffers and a business environment offering stability at a time of wider regional unrest, we expect Qatar's construction market to be regarded as a safe haven for the region's investors. However, we note that due to long leadtimes the majority of awarded projects have yet to take off, meaning the impact will not be notable on construction sector growth until 2013, and only make a considerable impact beyond 2016. Furthermore, we note the potential risk of decreasing margins due to continuously rising construction costs as a result of a surge in infrastructure investment.
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Key developments in Qatar's infrastructure industry include:
- According to a statement on October 25 2011 by the Minister of Economy and Finance, Yousef Hussein Kamal, Qatar's spending on infrastructure is expected to reach US$150bn ahead of the 2022 FIFA World Cup, in line with the country's 2030 Vision. A series of infrastructure projects are in the pipeline, including: a US$1bn transport corridor project in Doha; a US$20bn investment in roads; US$25bn to be invested in railways; US$15.5bn to be spent on a new airport; US$4bn to be invested in stadiums; US$8bn to be spent on a deepwater seaport; tens of thousands of hotel rooms to be built; and even a new city.
- In July 2011, the Public Works Authority of Qatar announced a road construction plan to connect Ras Laffan Industrial City with University Road and the Shamal Road, providing three lanes in each direction. The plans were unveiled as part of a larger scheme to build roads around the western and northern borders of the Ras Laffan Industrial City.
- The first phase of the Ras Qartas energy plant was completed in August 2011. The US$4bn plant will generate 2,730MW of power and 63mn gallons of desalinated water. The plant will supply the Qatar General Electricity and Water Corporation (Kahramaa) under a 25-year contract. The production will then be used to feed the local network or the GCC electricity link-up system. The development marks the commissioning of the biggest electricity generation plant in the country.
- Work has begun on the US$1.37bn Doha Festival City project. This is just one of a series of flagship projects that have got under way in Qatar since the country was awarded the FIFA 2022 World Cup in December 2010.
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