Qatar’s civil construction projects were valued at $82.5bn at the end of March this year, on the back of steady year-long growth in expenditure throughout 2008, according to a new report.
All 191 of Qatar’s major construction projects are still in operation, despite the impact of the global economic crisis, the report released by market research firm Proleads Global, said on Sunday.
Although more than 82 percent of the projects were late, the delays did not affect budgetary spend, added the report, entitled Insight Qatar.
“Our investigation shows the Qatar industry is showing good growth as a whole,” said Emil Rademeyer, director of Dubai-based Proleads Global.
“Only the leisure and entertainment sector may see a slight decline from December 2008 to December 2009,” he warned
The company’s investigation examined projects across real estate, infrastructure, leisure and entertainment.
It showed the leisure and entertainment sectors on there own experienced a decline in the last quarter of 2008, and the first quarter of 2009.
However, only one major project in the real estate sector was cancelled in Qatar during 2008, it said.
“While the Qatar economy is not immune to the global economic slowdown, it is expected to continue a reasonable rate of growth this year driven by the benefits from a long-term strategy to export liquefied natural gas from its vast gas field,” continued Rademeyer.
A previous investigation by the firm, published in February, found that more than half of all civil construction projects across the same sectors in the UAE had been shelved.
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