(MENAFN- The Peninsula)
Joel Johnson
|
The Peninsula
Doha: The construction sector is poised for positive trajectory growth across sectors including renewable energy, industrial, and oil and gas is expected to boost the market.
The latest report by Global Data indicates an Average Annual Growth Rate (AAGR) of over 4 percent in the years ahead up to 2028.
The market experts note that the various upcoming mega-projects aim at the initial stages, participants, and listings of major projects in the pipeline. The report also emphasises the critical sectors in the construction market and their growth drivers.
The researchers also outlined on several emerging trends while assessing key risks and opportunities that will influence the Qatar construction market growth in the coming years. Analysts also note that key sectors across construction include commercial, industrial, infrastructure, energy and utilities, institutional, and residential.
In the commercial sector, projects in the leisure, hotels, office buildings, outdoor leisure facilities, and retail buildings, are witnessing a boost as investments continue to drive market growth during 2025-2028, the data shows.
On the other hand, the ongoing chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plant projects are expanding demand in industrial constructions.
In terms of Qatar's state-of-the-art infrastructure projects, the report highlighted that“The government's spending on the country's road and railway transportation projects will support the infrastructure sector's output during 2025-2028.”
Industry leaders also underscore the investments in the energy sector renewable energy and oil and gas, electricity and power, telecommunications, sewage infrastructure, and water infrastructure ensuring a solid impact for Qatari business in the forthcoming future. Additionally, global events and forums hosted by the country are drawing numerous foreign investors to explore opportunities.
However, the data pointed out that implementing public investments across educational and healthcare facilities in the country is expected to fuel the growth of the institutional construction sector during the forecast period.
Experts also expressed optimism in the residential contruction activities as single-family housing and multi-family housing projects witnessed a hike during the recent quarters.
“The rising permits issued for residential buildings, coupled with the government's aim of distributing affordable housing units to a certain percentage of the population by 2030 will support the residential sector growth,” the report said.
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