Qatar on track to spend around $86.5bn on infrastructure developments in line with diversification efforts

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Source:  www.ameinfo.com

Qatar’s successful bid to host the 2022 FIFA World Cup is expected to energize the local construction sector and stimulate infrastructure investments worth around $100bn through the next 12 years. $4bn has already been allocated to build nine stadiums and upgrade three more in preparation for the country’s hosting of the world’s biggest football event.

Dubai metroAside from investments into its sports facilities, Qatar will also spend around $86.5bn on other infrastructure developments as part of efforts to sustain national diversification efforts. The country plans to make the construction and other non-energy sectors account for 80% of the economy by 2015.

The upcoming Project Qatar 2011 – The 8th International Construction Technology and Building Materials Exhibition – running from May 2 to 5, 2011 at the Doha Exhibition center will unveil Qatar’s top construction opportunities under one roof to complement the national infrastructure agenda. Organizer IFP Qatar will build a 30,600 sqm air conditioned extension to the existing exhibition space to create the largest temporary structure ever built in the Middle East, to support Qatar’s premier construction trade event.

“The FIFA World Cup in 2022 will definitely accelerate Qatar’s growth as one of the region’s most dynamic construction markets. The country is already undertaking some of the most ambitious projects in the Arab World, such as The Pearl Qatar, the Museum of Islamic Art and Education City, to further enhance the diversity of its construction activities. Project Qatar 2011 will be a key platform for regional and international suppliers, contractors and investors to capitalize on local opportunities represented by the World Cup and other growth factors such as increased demand for luxury developments and a rising population,” said Michel Gebrael, Project Manager, Project Qatar 2011.

The 8th edition of Project Qatar will build on the huge success of last year’s event, which drew in more than 32,000 visitors to view the products and services of 812 international exhibitors from 39 countries in 40,000 sqm of prime exhibition space. Project Qatar 2011 will extend the exhibition area further to almost 50,000 sqm to showcase all the offerings of over 1,000 leading exhibitors from all around the world. The number of represented countries is set to exceed 45, with the largest national pavilions to be set up by the UAE, Germany, Turkey, France and China. Of the 40,000 visitors, 8,000 are expected to be international trade personnel.