Qatar market intelligence: the next phase of construction
The Qatar construction sector witnessed substantial transformation in the run-up to the 2022 FIFA World Cup. However, afterwards there was a big cooling-off phase as the sector readjusted and aligned to its National Vision 2030 targets.
Construction slowdown drives cost escalation
The Qatar construction market experienced a slowdown in major project development in 2023. However, with continued government infrastructure investment, the construction market is expected to grow at a 9.5 percent compound annual growth rate between 2023 and 2030.
Doha is currently the most expensive location to build in the region, with an average cost of US$2,588 per sqm. As the market changes in 2023, the sector is witnessing challenges related to professional services, the workforce and contractor capability against the backdrop of the current and forecasted expenditure in the region, with particular reference to the active Saudi Arabian construction market.
The ongoing activity in the region will see Qatar compete for labour and resources, which will have an impact on construction cost escalation in the near future.
Transport and cultural developments to take centre stage
The government will continue investing in transport infrastructure as part of strengthening its logistics capability. Sea and airports are expanding their handling capacities, in terms of both passengers and cargo.
Qatar’s ports have also been crucial for economic development, and they will be of even greater importance as the government works to build on the country’s status as a regional shipping centre. The 2050 Transport Plan, which the Qatari government has undertaken, comprises 286 schemes that will be awarded in the next few years.
Digitalisation driving a sustainable future
Aligned with Qatar's National Vision 2030, the nation will witness a notable surge in sustainable construction initiatives over the next few years, incorporating cutting-edge technologies designed to minimise environmental harm.
Public sector organisations in Qatar are setting the example and using digitisation to transform the construction sector. The development of Qatar's green building industry will be greatly aided by this digital infrastructure.
For the full analysis and insight into the Qatar construction industry, access the full report below.