| Market Research A to Z | Company Profiles A to Z | Register | Contact Us |
| +44 (0) 203 086 8600 Call us on |
Qatar Infrastructure Report Q3 2009
Market |
Construction |
Report Type |
Market Research |
Country |
Qatar |
Published |
2 July 2009 |
Number of Pages |
88 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
Real growth of 6.23% is forecast for the construction industry in Qatar to total US$5.68bn
Qatar has been one of the best prospects for growth in the infrastructure sector in the Middle East in 2009. Although our forecasts have been revised downwards, we still expect it to achieve one of the highest growth rates in the region this year. In the Q309 Qatar Infrastructure Report we are forecasting real growth of 6.23% for the construction industry to reach a value of QAR20.68bn (US$5.68bn).
In the last quarter, the ongoing mega-projects in the country continued to dominate the infrastructure sector. The largest project in the transport sector continues to be the Qatar-Bahrain Causeway. Work is still expected to start at the end of 2009, and Qatar’s commitment to the project was illustrated through the country offering Bahrain a loan in May for US$350mn for the project. Also dominating activity in the transport sector are ongoing projects the New Doha International Airport, which is being built by the US’s Bechtel, and the New Doha Port, which is one of the largest greenfield port developments in the world, and is due to be completed in 2014.
In the utilities sector, demand for both water and electricity has been rising rapidly in 2009, and catering for this increased demand is a top priority. Construction started in May 2009 on the Ras Laffan C (Ras Girtas) independent power and water plant (IWPP). The IWPP is the largest in Qatar and will be one of the largest in the The Gulf Cooperation Council (GCC), with an electricity generating capacity of 2,730MW. It is being developed by GDF Suez and Mitsui, in co-operation with Qatar Petroleum and Qatar Electricity and Water Corp.
It is believed that the number of ongoing mega-projects in Qatar’s relatively small construction industry will continue to fuel growth in the sector, especially in the transport and utilities subsectors. The residential and commercial construction sectors, however, are unlikely to experience the same growth.
One key indicator is house prices, which have fallen by 30% in the six months to May 2009, leading to over-supply and therefore delays on new projects. This is presenting a downside risk to our forecasts in 2009.
Although many oil-rich states in the GCC are feeling the pinch this year, Qatar is reliant on gas and LNG exports for revenue for the most part and thus will not be hit as hard as Saudi Arabia, for example.
However, the gas downturn will follow the oil price decline, and the country will not be immune to the impact of the global downturn; this may present a future downside risk to our forecasts as much of the investment in the country is state funded. These factors have led to a reduction in our real growth forecasts for 2009, and indeed beyond, with 2010 looking to post the slowest growth between 2009 and 2013 of 4.38% y-o-y.
Last Viewed
Qatar Infrastructure Report Q3 2009Loblaw Companies Ltd - SWOT Analysis
Italy Food and Drink Report Q1 2010
News and Magazine in Greece to 2013
Algeria Agribusiness Report Q2 2010
Become an Affiliate
Do you manage an industry specific website or blog? Are you looking to monetise your web traffic further? Are you a B2B website?
Why not offer your visitors industry specific strategic market reports and company profiles? Our Affiliate Program enables you to provide quality content on your website and to earn money from passing on visitors to our website. If a sale is made from your visitor, you earn commission (a fixed percentage of the price of a product).
Custom Research
Cannot find what you need? We can tailor a report for you. Complete the Custom Research Form and we will provide a quote.
News
Report: Recession Hampers Growth in the Global Photoresists and Ancillaries Market
Report: Product Innovation Keeps Consumer Interests Sufficiently Kindled in the US Housewraps market
Market Insights
Currently there are no Market Insights in this sector.
