DOHA: Qatar is set to award more than $22bn worth of new contracts in 2016 as it maintains its spending spree in advance of the FIFA 2022 World Cup. Details of these new projects, together with some of the challenges they represent, will be outlined at the annual MEED Qatar Projects Conference in Doha from March 15 to 16.
The forecast of $22.2bn worth of contracts to be awarded in the state this year is some 24 per cent lower than the $29.3bn worth of deals awarded in 2015, primarily due to lower oil prices but also thanks to a renewed focus on existing project delivery rather than the launch of new schemes. However, this year’s figure is also almost exactly in line with Qatar’s $22.3bn contract award average experienced over the past five years.
“Like all GCC states, Qatar’s is set to spend less this year as government revenues are impacted by lower oil prices,” says Ed James, Director of Content & Analysis at regional projects tracker MEED Projects, which created the forecast. “Nonetheless, the projects market in the state is expected to continue apace as the authorities press ahead with their capital investment plans as the deadline for the World Cup looms closer. This will ensure a healthy pipeline of new projects will come to the market throughout 2016, providing numerous new opportunities for suppliers, contractors and vendors alike.”
Prestigious keynote speakers at the event will be Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani together with Eng Nasser bin Ali Al Mawlawi, President of Ashghal, the largest single client in Qatar. With more than $30bn worth of projects either planned or under construction, Ashghal is a key stakeholder in Qatar’s future development, and will outline its vision for the state at the event. It will also reveal details of its major challenges as well as how companies can work more closely with it to achieve its objectives.
Other speakers includes Saud Abdullah Al Attiyah, Director of Economic Policies and Research Department at the Ministry of Economy and Commerce in Qatar, Ahmed Nassar Al Kowsi, logistics Director and Kaldoon Truman, Senior Director of Contracts and Procurement both from Qatar Rail, Mohammed Al Malki, Chief Planning Business Development Officer at Manateq, Atter Exxat Hannoura, Director of PPP Central Unit at the Ministry of Finance in Egypt and senior representatives of the Public Works Authority (Ashghal) will also address the conference.
Topics to be covered will include: an exclusive update on the implementation of PPP regulations in the $200 bn Qatari projects market, Evaluating the existing funding options to finance mega project programmes in Qatar, discussing the critical challenges facing project owners and contractors from the initial stage of recruiting through to project delivery - the lessons learned, managing risk and mitigating disputes in the Qatari project market through well-constructed contracts, discussing the upcoming plans for growth and development of the hospitality industry in Qatar, and a recent update of the existing and future mega projects happening in Qatar.
“Qatar’s going to lead the region and the world once more with further progress in the execution of its inspiring vision for the years to 2030,” says Richard Thompson, Editorial Director of MEED Magazine. “Lower oil prices can’t be ignored, but it’s clear that Qatar has the financial and human resources overcome this challenge. The MEED Qatar Projects Conference will be the perfect place to learn how Qatari, regional and global businesses can play their part in delivering the vision.” The Peninsula
DOHA: Qatar is set to award more than $22bn worth of new contracts in 2016 as it maintains its spending spree in advance of the FIFA 2022 World Cup. Details of these new projects, together with some of the challenges they represent, will be outlined at the annual MEED Qatar Projects Conference in Doha from March 15 to 16.
The forecast of $22.2bn worth of contracts to be awarded in the state this year is some 24 per cent lower than the $29.3bn worth of deals awarded in 2015, primarily due to lower oil prices but also thanks to a renewed focus on existing project delivery rather than the launch of new schemes. However, this year’s figure is also almost exactly in line with Qatar’s $22.3bn contract award average experienced over the past five years.
“Like all GCC states, Qatar’s is set to spend less this year as government revenues are impacted by lower oil prices,” says Ed James, Director of Content & Analysis at regional projects tracker MEED Projects, which created the forecast. “Nonetheless, the projects market in the state is expected to continue apace as the authorities press ahead with their capital investment plans as the deadline for the World Cup looms closer. This will ensure a healthy pipeline of new projects will come to the market throughout 2016, providing numerous new opportunities for suppliers, contractors and vendors alike.”
Prestigious keynote speakers at the event will be Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani together with Eng Nasser bin Ali Al Mawlawi, President of Ashghal, the largest single client in Qatar. With more than $30bn worth of projects either planned or under construction, Ashghal is a key stakeholder in Qatar’s future development, and will outline its vision for the state at the event. It will also reveal details of its major challenges as well as how companies can work more closely with it to achieve its objectives.
Other speakers includes Saud Abdullah Al Attiyah, Director of Economic Policies and Research Department at the Ministry of Economy and Commerce in Qatar, Ahmed Nassar Al Kowsi, logistics Director and Kaldoon Truman, Senior Director of Contracts and Procurement both from Qatar Rail, Mohammed Al Malki, Chief Planning Business Development Officer at Manateq, Atter Exxat Hannoura, Director of PPP Central Unit at the Ministry of Finance in Egypt and senior representatives of the Public Works Authority (Ashghal) will also address the conference.
Topics to be covered will include: an exclusive update on the implementation of PPP regulations in the $200 bn Qatari projects market, Evaluating the existing funding options to finance mega project programmes in Qatar, discussing the critical challenges facing project owners and contractors from the initial stage of recruiting through to project delivery - the lessons learned, managing risk and mitigating disputes in the Qatari project market through well-constructed contracts, discussing the upcoming plans for growth and development of the hospitality industry in Qatar, and a recent update of the existing and future mega projects happening in Qatar.
“Qatar’s going to lead the region and the world once more with further progress in the execution of its inspiring vision for the years to 2030,” says Richard Thompson, Editorial Director of MEED Magazine. “Lower oil prices can’t be ignored, but it’s clear that Qatar has the financial and human resources overcome this challenge. The MEED Qatar Projects Conference will be the perfect place to learn how Qatari, regional and global businesses can play their part in delivering the vision.” The Peninsula
