26 56 Qatar is witnessing the implementation of many public projects with the aim of developing infrastructure, transportation, education and health sectors, as the cost of completing these works is about QR 74 billion, according to a report by Al-Asmakh Real Estate Projects Company. Managed by the concerned authorities in the country, the large package of contracts related to the projects to be implemented during 2022 is the main axis that will enhance the growth process of the construction sector. The report indicated that the cost of completing public projects is estimated at QR 74 billion, and infrastructure projects have the priority of spending and the development of citizens' lands is the priority of spending. The report indicated that this reality that leads to the recovery of the building construction sector will continue in the coming years, coinciding with the trend of developers and real estate investors to expand their real estate investments in the coming years. The report added that the rate of government spending is one of the most important factors leading to the growth of the real estate sector, pointing out that there is strong competition in the contracting sector due to the huge sums of money that have been injected into infrastructure projects related to development projects. This is in addition to the transportation sector projects, the expansion of Hamad Airport and the maintenance of the former Doha International Airport for use in hosting the World Cup. Besides, there is also a focus on the education and health sectors, as the value of spending on education sector projects during this period is estimated at QR 17.8 billion, and about QR 20 billion for the health sector projects. The report added: These projects will create the opportunity for accompanying projects related to the real estate sector, and will reflect positively on the activity of the real estate sector through the development of real estate facilities such as housing, commercial complexes and multiple-use buildings. The volume of real estate trading in sales contracts registered with the Real Estate Registration Department at the Ministry of Justice continued to rise during the year 2022. Economic Confidence Investor confidence in economic policies and their ability to push the construction market in Qatar to reach its previous estimates of $71.65 billion by 2025 gave a significant boost to the sector's continued growth. This growth rate is exceptional by all standards, to prove beyond any doubt the multiplicity of investment opportunities in Qatar, which is famous for having one of the highest rates of per capita income in the world, as a result of the Qatar National Vision 2030, which confirms the government's insistence on diversifying the sources of the economy away from its dependence on oil and gas sector. The construction and manufacturing sectors are among the main pillars of this diversification. Construction Sector... A host of Projects beyond the World Cup global construction sector is expected to reach $14.41 trillion by 2030. In Qatar, the building and construction sector is witnessing its golden age, which is directly reflected in the optimism prevailing among real estate developers before the 2022 FIFA World Cup in Qatar and for the next stage. The Construction
RkJQdWJsaXNoZXIy MTM3ODY1Mg==