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Qatar's construction market presents a wealth of opportunities driven by major infrastructure projects, strategic government initiatives, and a strong residential real estate sector. With ongoing investments and favourable economic conditions, the market is set for continued growth and development.
The construction market in Qatar is poised for substantial growth, driven by a combination of infrastructure upgrades, mega sporting events, and strategic government initiatives. Analysts forecast that Qatar’s construction industry will grow to QR133.5 million by 2024, marking a 4.40% increase. The sector is expected to continue its upward trajectory with a compound annual growth rate (CAGR) of 4.4% from 2024 to 2028, with a projected total construction output of QR154.2 million over the next four years.
The Qatar National Vision 2030 and the 2050 Transport Plan are central to the country's strategic growth. The 2050 Transport Plan, valued at QAR 9.83 billion (USD 2.7 billion), includes 22 new projects aimed at enhancing the nation's transportation network. Among these, the second phase expansion of the Doha Metro network and the proposed multibillion-dollar Sharq Bridge are notable. The Sharq Bridge will feature three overground sections and underwater tunnels, connecting Katara Cultural Village to Hamad International Airport.
In the residential sector, growth is robust, with forecasts predicting USD 12.39 billion in 2024 and USD 21.39 billion by 2029, reflecting an 11.45% CAGR. This growth is supported by increased foreign direct investment and interest from expatriates in high-profile real estate projects such as The Pearl and West Bay Lagoon.
