Khalid Tawalbeh
Doha
Qatar’s construction sector is experiencing sustained growth and presenting promising investment opportunities, as reported by ResearchAndMarkets.
The construction industry in Qatar is projected to expand by 6.8% in 2023, reaching QR98.630 millio. Although certain construction sectors face immediate challenges, the long-term outlook remains strong, with continuous growth anticipated in the coming years.
Forecasts indicate a compound annual growth rate of 7.3% from 2023 to 2027.
Prominent figures in Qatar’s real estate sector have expressed their confidence and enthusiasm regarding the positive projections.
Speaking to Qatar Tribune, Bader Al-Suwaidi, CEO of a leading real estate development company, emphasized the enormous growth potential in Qatar’s construction sector.
He stated: "Significant investment opportunities exist in residential and commercial projects.” He said his company is committed to contributing to Qatar’s infrastructure development and overall vision.
Al-Suwaidi believed that the sustained growth of the construction sector will offer ample prospects for investors and developers to participate in Qatar’s urban development.
Their company’s focus is on delivering high-quality projects that cater to the evolving market needs. By leveraging their expertise in real estate development, they aim to create sustainable communities aligned with Qatar’s vision for a prosperous future.
Fatima Al-Mahmoud, another influential real estate investor, highlighted the importance of strategic planning in the face of market growth. She underscored the diverse investment opportunities available within Qatar’s construction sector and stressed the significance of tailoring strategies to capitalize on the expected growth trajectory.
Al-Mahmoud’s company intends to develop sustainable and eco-friendly properties that align with Qatar’s vision for a greener future.
Acknowledging the increasing demand for environmentally conscious and energy-efficient buildings, Al-Mahmoud’s company aims to integrate green building practices into their projects.
They strive to contribute to Qatar’s sustainability goals while providing modern and comfortable living spaces. Through innovation and sustainability, they aim to build a portfolio of properties that meet market demand and align with Qatar’s commitment to environmental stewardship.
In turn, Saud Al Marri, chairman of a renowned construction company, expressed confidence in Qatar’s dedication to infrastructure development.
He emphasized the pivotal role the construction sector plays in achieving Qatar’s ambitious goals. Al Marri’s company is actively engaged in executing projects that enhance Qatar’s urban landscape and contribute to economic diversification.
With involvement in transportation, residential, and commercial projects, Al Marri’s construction company aims to deliver innovative and iconic structures.
Their projects adhere to the highest quality standards while supporting Qatar’s overall growth and progress. Through collaborations with local and international partners, they strive to push the boundaries of construction excellence, establishing Qatar as a global hub for cutting-edge infrastructure.
These statements from key players in Qatar’s real estate industry reflect the positive sentiment and eagerness to capitalize on the projected growth opportunities within the construction sector.
They confirmed that to seize the potential of Qatar’s construction market, stakeholders and investors should analyze market trends, assess risk factors, and align their strategies with the country’s development priorities. By doing so, they can actively contribute to Qatar’s journey towards a prosperous and sustainable future.
The growth of Qatar’s construction sector not only signifies economic progress but also underscores the nation’s commitment to creating a modern and thriving society.
Through collaboration between the public and private sectors, Qatar is well-positioned to unlock further opportunities and solidify its status as a leading construction hub in the region.
Dr. Sanad Al Ameer, professor of business, told Qatar Tribune that in addition to the optimistic outlook for Qatar’s construction sector, "there are several factors driving its growth and investment potential. One significant factor is Qatar’s ambitious vision for hosting major international events, such as the FIFA World Cup in 2022.”
"The preparation and development of world-class stadiums, infrastructure, and accommodations to support these events create substantial opportunities for construction projects. This not only boosts the construction sector but also enhances Qatar’s global reputation as a destination for sports and major events,” he said.
He added: "Moreover, Qatar’s strategic geographical location and its status as a regional business and transportation hub contribute to the growth of its construction sector.
"The country’s strategic investments in ports, airports, and transportation networks make it an attractive destination for businesses and investors. The development of logistics and industrial zones, as well as the expansion of transportation infrastructure, offer significant potential for construction projects, including warehouses, distribution centers, and transport hubs, further stimulating the construction sector’s growth,” he continued.
Al Ameer stated that Qatar’s commitment to sustainable development and green initiatives plays a vital role in driving construction opportunities, "the nation has set ambitious targets for energy efficiency and carbon neutrality, prompting an increased focus on sustainable building practices”.
"With the combination of Qatar’s vision for major events, its strategic location as a business hub, and its commitment to sustainable development, the construction sector is poised for continued growth and lucrative investment prospects,” he stressed.
"Stakeholders and investors should closely monitor market trends, identify emerging opportunities, and adapt their strategies to capitalize on the expanding construction landscape in Qatar. Through collaborative efforts and a steadfast commitment to quality and sustainability, Qatar is well-positioned to solidify its status as a global construction leader and drive its economy towards a prosperous future”.