In 2021, the construction market in Qatar grew by 1.7% after declining by 3.8% in 2020. In analyst forecasts, the industry is expected to grow by 2.3% in 2022 and by an average of 3.6% in the period from 2023 to 2026. This growth is expected due to the functioning of the QNV 2030 program.
The Qatari government has ratified a new law regulating public-private partnerships (PPPs) that is expected to attract more foreign direct investment to the country. Based on the latest construction trends in Qatar - urban infrastructure development, transportation, healthcare and education projects - the growth of the construction industry will only increase.
There are many opportunities for foreign construction companies and investors to work comfortably in Qatar, especially in the area of development, which is key to achieving the QNV 2030 plan. Lower building material costs are also being received very positively by contractors who want to expand in the country.
Qatar has set itself the goal of becoming an advanced country by 2030, and many foreign investors will not want to miss this opportunity and will increase their presence in large construction projects.