Qatar has earmarked $13bn in investments for 2017 with industry analysts predicting the market to peak within the first half of the year.
With the country’s construction sector expected to account for 45% of investments between 2015 and 2018, Qatar’s construction market is booming despite economic pressures from low oil prices.
But with diversification efforts in full swing, gross domestic product (GDP) growth in the non-hydrocarbon sector hit 5.6% in 2016 with the construction industry as the largest contributor.
In February, reports revealed that Qatar was spending an average of $500m a week on major infrastructure projects in preparation for World Cup 2022. This level of spending is expected to continue up to 2021.
Read the full story at Construction Week Online.