Construction market in Qatar is probably the fastest-growing in the world. It records a double-digit growth as the government work to tackle its needs.
There’s a 12.1% growth between 2017 and 2021, which is said to benefit the investment into preparation for the FIFA World Cup 2022.
Qatar’s growth in the coming five years mainly depends on public investment as market prepares to host the FIFA 2022 World Cup.
The government intends to spend QR198.4bn in 2017 and generate some QR170.1bn in revenue, opening a fiscal deficit of QR28.3bn that will be covered by issuing debt in the international financial markets.
“We are forecasting industry expansion of 12.1% in real terms between 2017 and 2021,” BMI said.
Besides Qatar, Myanmar, Ethiopia, Pakistan and the Philippines will be the fastest-growing construction markets globally over the next five years BMI said.
“The rapid expansion these markets will enjoy will be attractive to firms looking for new avenues of growth, offsetting the generally higher-than-average operational risk,” BMI said.
Construction opportunities in markets other than Qatar are halting mainly due to the need to improve their overall logistics profile to support economic growth, it said.
Growth in such markets will be influenced by China’s involvement, which will provide finance and expertise.
“Qatar is again the exception in this case, with public spending underpinning the progression of the market’s packed project pipeline,” the Fitch Group company said.