Qatar’s construction sector to reach over $106bn by 2030

Doha, Qatar: Qatar s construction sector is on a strong upward trajectory, with the market projected to surpass $68.7bn (QR250bn) in 2025 and grow to...

Doha, Qatar: Qatar’s construction sector is on a strong upward trajectory, with the market projected to surpass $68.7bn (QR250bn) in 2025 and grow to $106.3bn (QR388bn) by 2030, according to recent data from Research And Markets. An industry leader notes that the sector is driven by renewed investment in liquefied natural gas (LNG), infrastructure, and sports tourism, the sector is quickly regaining momentum. 

Michael Brady, Director of Turner & Townsend in Qatar, mentioned that the market had faced headwinds after the 2022 FIFA World Cup due to a cooling in real estate development and heightened competition among contractors.

Speaking to The Peninsula, the market expert said: “The confidence in the construction sector is more positive today, with signs of a market ready to reinvent itself. We’re seeing a renewed focus on development, driven by a strong pipeline of ongoing and emerging activity.”

Much of the sector’s momentum is being propelled by government-backed projects aligned with the QNV 2030. “Projects in typically strong sectors for Qatar, such as new liquified natural gas (LNG) lines, are being balanced with increased ambition for transport, tourism and infrastructure development,” Brady explained.

According to Global Data, infrastructure spending in Qatar is expected to exceed QR90bn in 2024 alone, with mega-projects from Ashghal and Kahramaa leading the way.  “This high demand, coupled with supply chain challenges, is contributing to elevated tender prices. Doha already ranks as the second most expensive city for construction in the Middle East, and the average cost of construction has reached $2,631,” Brady said.