Qatar’s construction sector is expected to enjoy growth in 2018 as government spending on major infrastructure projects exceeds 47 per cent of the country’s budget.
About $103bn will be set aside for new and major projects, boosting GDP growth by 3.4 percent—the highest in the GCC region, surpassing Saudi Arabia, said IFP Qatar general manager George Ayache at a press conference for Project Qatar’s 14th edition held this week at at the Doha Exhibition and Convention Centre.
“We are all eager to see the development taking place in Qatar and for that Project Qatar is the platform to tap into the ever-growing infrastructure and construction industry in Qatar.”
He added that he is confident the country is at “a very acceptable equilibrium between the demand and supply in the construction market; growth will be climb from 2018 onwards.”
Over 500 exhibitors from around the world are looking to tap on Qatar’s multi-billion-dollar construction sector. The event is expected to gather more than 16,000 visitors from across the globe. It will also be host to seminars touching on key issues in the construction industry.
“The construction industry plays a very important role in achieving infrastructure development and thereby attracting foreign direct investments into the country, consistent with Qatar’s vision of becoming a leading hub in the region for world events, including the FIFA 2022 World Cup,” Ayache said.
Other activities like a live demo theater, the ‘Accessible Qatar Conference’, and a B2B Matchmaking session will also be part of the event.