A new report has found that Qatar is avoiding the Middle East slowdown with only one major project cancelled in 2008.
The report entitled Insight Qatar from market research firm Proleads Global found Qatar’s 191 civil construction projects were valued at $82.5 billion at the end of March.
Although more than 82 per cent of the projects were late, the delays did not affect budgetary spend, the report found.
A previous Proleads investigation, published in February, found that more than half of all civil construction projects across the same sectors in the United Arab Emirates were on hold.
Proleads ranked Qatar’s top five developers as: Qatari Diar Real Estate Investment Company; Barwa Real Estate Company; Energy City; Public Works Authority (Ashghal); and the New Doha International Airport Steering Committee.
Proleads global director Emil Rademeyer said: “Our investigation shows the Qatar construction industry is showing good growth as a whole.
“No country in the world has proved itself immune to the credit crunch but it certainly does appear at this stage that, as far as civil construction is concerned, Qatar is probably one of the least affected.”
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