Qatar’s construction sector is likely to see a growth in 2018 as the government plans to spend more than 47% of the national budget on major infrastructure projects. “The government will be spending around $103bn for new and major projects,” IFP Qatar general manager George Ayache said at a press conference.
“This led the IMF to state that Qatar will be witnessing the highest GPD growth in the GCC by 3.4%, even exceeding Saudi Arabia. We are all eager to see the development taking place in Qatar and for that Project Qatar remains as the platform to tap into the ever-growing infrastructure and construction industry in Qatar,” he emphasised.
He is confident that the country is at ‘a very acceptable equilibrium between the demand and supply in the construction market and growth will be witnessed as of 2018 and onwards.’
Around 500 exhibitors from 33 countries are keen to leverage the future developments of Qatar’s multi-billion-dollar sector.
“The groundwork and business networking needed in order to optimise the capabilities the global construction has to offer require a dedicated platform for companies of all sizes to build business relations and secure major successful deals.
“The construction industry plays a very important role in achieving infrastructure development and thereby attracting foreign direct investments into the country, consistent with Qatar’s vision of becoming a leading hub in the region for world events, including the FIFA 2022 World Cup,” Ayache said.