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Latest construction stats put Qatar in top five

As many of the developed countries construction markets continue to show sluggish rates of growth, a recent report from Commercialbank Capital estimates Qatar’s construction market will yield a compound rate of growth at 12.5%.

With the average growth rates across the EU estimated below 2% leading towards 2020, this report has added further confidence to the Qatari market, as signs suggest a serious increase in infrastructure spending and development to meet the various deadlines imposed by a potential Olympics and the FIFA 2022 World Cup.

With the transportation sector leading the way with ongoing projects estimated at $60 billion, this figure represents approximately a quarter of the total value of ongoing projects, valued at $240 billion

According to a statement released with the report on behalf of Alex Carre de Malberg, global head of Commercialbank Capital and Dr. Abudulaziz A Al-Ghorairi, the senior vice president and chief economist: “Qatar continues to be a magnet for investment due to its impressive economic performance in the face of continued global economic uncertainty. On the back of a strong GDP growth of 19% in 2011, decelerating to a forecast 6% in 2012, Qatar’s GDP would reach USD 197bn. Qatar also boasts the highest per capita income growth in the world, expected to reach USD 112k by 2016. This has led to Qatar witnessing a construction boom since 2006 (ongoing construction related contracts have tripled in value).”

The report continued to say that it “highlights the changing pace of the Qatari economy and construction sector.

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