A general skyline view of the buildings in Doha.
Qatar’s economy is steadily growing with pivotal projects that were carried out in recent years due to FIFA World Cup 2022 and major events in the country.
As a result, the infrastructure industry in the country is estimated at a compound annual growth rate (CAGR) of 7 percent from 2023 to 2028.
“Main infrastructure projects include the completion of highways, expansion of water and electricity networks, and the launch of the Sharq Crossing Project, linking the Ras Abu Aboud area of Doha and the West Bay Highway District, which is expected to be completed within four years,” said Mordor Intelligence in a report.
The industry has contemplated unique plans in the region to augment its facilities benefitting the economy of the country. Infrastructure covers various sectors including social infrastructure, transportation infrastructure, extraction infrastructure, and manufacturing infrastructure.
“Construction makes a large contribution to GDP due to government initiatives in infrastructure", the report highlighted stating that the industry of construction will grow by 15.9 percent GDP.
The report mentioned that the sector has been elevated positively impacting the economy due to the successful mega tournament held last year in the country and the government’s constant support and colossal investments in the infrastructure sector.
In previous years, essential investments were implemented in both residential and non-residential areas as part of Qatar’s economic diversification strategy under National Vision 2030. “Apart from World Cup-related projects, several other large-scale social and commercial construction projects are underway which will spur growth in the residential and non-residential sector,” it said.
As the market looks very steady with burgeoning sectors in the country, Qatar’s infrastructure-related projects and facilities anticipate expanding rapidly across the region, resulting in a healthy-driven economy.
