Qatar registered a 21% increase in project awards between 2012 and 2013
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Qatar’s projects market grew by 26% last year, with a 21% increase recorded in project awards between 2012 and 2013.
The country spent $20bn on various mega-projects in 2013, such as Qrail’s Doha Metro Red and Green lines and metro stations, which made up for 41% of total projects awarded in the country.
Between 2008 and 2013, Qatar’s project market accounted for 12% – $96bn – of the GCC’s total projects awarded value. The outlay per year for this period is estimated to be worth $16bn.
Qatar, in 2008, had awarded over $22bn-worth of projects across the country’s construction and power industries. These included the Ras Girtas Power & Water project, Kharamaa Transmission Phase VIII project, Barwa City Development and Lusail Development projects, said a report by MEED Insight.
2014 is expected to sustain Qatar’s growth momentum, with awarded contracts expected to be worth $24bn as the country prepares to host the Fifa World Cup 2022. Additionally, the country’s public works authority, Ashgal, recently revealed its plans to launch an expressway worth $27.5bn, with other interchange projects over the next five years.