Qatar is expected to invest more than $140bn into its infrastructure projects over the next five years, the country’s Finance Minister said on Wednesday.
According to a report by Gulf Times, Yousef Hussein Kamal said that projects such as the new airport, the first phase of a railway station plan and education and social development would receive the bulk of investment.
Qatar’s construction industry has been on a strong upward curve, buoyed by strong GDP growth and preparations for the hosting of the 2022 FIFA World Cup.
A recent Alpen Capital report found that the country’s residential market is set for strong growth on the back of sustained population and increased economic activity. According to IMF estimates, the population of Qatar is set to grow at a CAGR of 4.7% between 2011 and 2016 due to an influx of expatriates.
The country has a number of ongoing construction projects, valued at $250bn, with infrastructure attracting some 34% of total investments. In addition, approximately $100bn is planned to be spent on development projects in anticipation of the World Cup.