MEED: Qatar hub of construction market
TRIBUNE NEWS NETWORK
QATAR has emerged as one of the most lucrative global markets for construction companies with more than $70 billion worth of major projects to be awarded until 2022, according to statistics from the MEED Qatar study.
The country’s triumphant bid to host the FIFA World Cup in 2022 has been a key factor that has spurred the construction frenzy as Qatar races to modernise its infrastructure and build dedicated facilities to host more than 500,000 football fans during the 2022 tournament.
Moreover, the aforementioned projects are part of a long-term strategic plan that will establish Qatar as one of the Middle East’s most advanced economies under the Qatar Vision 2030.
Analysts predict that the combined value of the various development initiatives will ultimately establish Qatar as the world’s largest projects market on a per capita basis in the next 20 years.
The construction boom in Qatar serves as a major incentive for engineering specialists to invest in more advanced and innovative construction solutions to cater to the fast-changing needs of the construction industry, according to Drake & Scull International (DSI), a regional market leader in i ntegrated design, engineering and construction disciplines of civil contracting, mechanical, electrical and plumbing (MEP), and water and power.
DSI’s local arm, DSI Qatar, a market leader with an impressive engineering history and track record of prestigious projects in the country, has noted that as Qatar increasingly generates global attention, the quality, reliability and sustainability of the projects being undertaken across the country are likewise being subjected to greater scrutiny.
Leveraging the length of its operation in the country and its unique ability to adapt to the complexities and dynamics of the Qatari market, DSI Qatar has secured a large number of high-profile projects that are critical components of the government’s roadmap to the FIFA World Cup 2022.
The energetic pace of construction activities in Qatar has certainly opened a huge window of opportunity to accelerate growth plans and further expand scope to cater to a much broader range of projects, including upcoming mega-projects across the country.