The 2022 Fifa World-Cup causing a stir in excitement amongst the construction industry over in Qatar, the boom in construction was slowed down by the recent pandemic.
Whilst construction did slow down, it was not completely halted; promisingly, the government has ‘okay’ed’ many more new projects since the pandemic began.
The value of Qatar’s construction market was previously valued to reach $71.65bn (£57.04bn) by 2025. Many industry experts still believe this estimate is doable.
The overwhelming impact that the up-coming Fifa World Cup has has on the construction industry of Qatar is evident. Within just four years of being awarded the event, construction has become Qatar’s largest non-mineral related industry.
With many World-Cup related larger construction tasks close to competition, lower-value tasks are still in abundance.
Moutaz Al-Khayyat is chairman of Power International Holding and UCC Holding, believes that ‘This will create opportunities for smaller players, creating a broader, even more resilient construction market in Qatar.’ and believes that ‘As a result, construction will flourish even after the World Cup and I hope that our British friends will continue to look for – and make the most of – the opportunities available from working with us in Qatar in the many years ahead.’
Clearly, the future of the construction industry in Qatar looks set to be exciting.