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Qatari construction sector is making leaps and bounds in growth

Qatari construction sector

The Qatari construction sector has achieved good growth figures in recent years, benefiting from the ongoing economic and development projects in the country.

A report by Al-Asmakh Real Estate Projects Company said that the Qatari construction sector is benefiting from the projects that have been underway for years, the World Cup being the most important.

The report emphasized that the construction sector gave support to the entire Qatari real estate sector, expecting that growth would continue for the next two years as well.

The report indicated that this growth is driven by the economic development plan included in the Qatar National Vision 2030, and spending on infrastructure and transport projects to be implemented.

The real estate projects being implemented in the country varied between artificial islands in the sea, and high-rise towers on the land, and included all real estate fields, in addition to residential cities such as Lusail City and The Pearl-Qatar, with investments exceeding $170 billion, the report said.

The report pointed out that the construction sector will continue to complete the existing projects in Lusail City, the Pearl Qatar, and the planned facilities in the country, in addition to building the sports stadiums announced to host the 2022 World Cup.

The real estate sector is one of the most important pillars of economic development, which is one of the main pillars of the Qatar National Vision 2030, the report said.

The report indicated that major real estate companies were able to keep pace with development by launching pioneering real estate projects.

 

Rational legislations

The report stressed that the State of Qatar provides solid legislation and an attractive climate for investment, in addition to the continuous creep of liquidity seeking a safe haven for investment.

The laws and legislation issued by the state effectively contributed to facilitating real estate investment, the report said.

The pointed out that the construction boom in Qatar will continue in the coming years, given the country’s rapid growth, strong economic prosperity and giant projects in all sectors.

In a related context, a local real estate report suggested a decline in investment real estate returns related to the commercial sector in Qatar, during the second quarter of 2021.

The report pointed out that the impact on the returns of the residential sector, which falls within investment real estate, will be limited, in light of the stability of rents for housing units at the same values ​​recorded in the first quarter in some areas, with a slight decrease in others.

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