Qatar successfully bid to host the 2022 FIFA World Cup. This has proved Qatar’s ability to focus and succeed in its great ambition to host 2022 FIFA World Cup. This is a turning point for Qatar as it has to led to rapid growth and development of Qatar in terms of infrastructure and economy.
2022 FIFA World Cup has sparked great interest among various investors in different industries and specially construction industry. This achievement has thrown open the door of opportunities for country’s real Estate and construction industry. This starts with the need to improve on its infrastructure on a urgent basis. In short you need more companies, experts, work force to execute the required projects. The infrastructure projects are underway in the form of construction of roads, flyovers, bridges etc. and more of these are planned for the future too. This is important to facilitate the construction activities and other projects taking place in different parts of the country. Some of the important projects going on in Qatar include the airport project, the rail project, Lusail project, Pearl Qatar etc. The country also has other projects going on like construction hotels and apartments. Qatar requires world class stadiums to support world cup event and stadium projects too are in the cards.
This has generated a lot of opportunity for locals and foreigners for employment and business expansion. The city of Doha has a good number of hotel projects going on and more are supposed to follow in the coming years. FIFA World cup has propelled the growth of construction industry in Doha, Qatar. Qatar has become one of the hot and favorite spots in the field of real estate and construction in the Middle East as of date. The Qatar building and construction industry is witnessing its greatest boom period.
This has led to many construction companies from the GCC countries like UAE, Saudi, Bahrain and Oman etc. to eye major projects and start their operations in Qatar. Due to the entry of international players in this market there is going to be tough and healthy competitions among construction companies to procure important projects. Looking at the size of market and opportunities in the future, it looks like all the building contracting companies who are established will have their fair share of this lucrative market. The market is supposed to gain momentum probably by early next year, till then it is a wait and watch situation.