Qatar was one of the GCC markets most resilient to the Covid downturn, recording just under $13bn of contracts in 2020. This was only marginally less than the 2019 figure of $13.7bn as the government ramped up spending in advance of the FIFA 2022 World Cup on projects that they could not afford to delay.
The state is likely to end 2021 as the largest projects market in the region based on contracts awarded in the year. As of the end of September it had awarded $23.8bn worth of deals primarily on the back of its $15bn-plus LNG expansion program, putting it far ahead of any other GCC state, including Saudi Arabia.
The LNG program combined with spending ahead of the World Cup is set to keep the state at the forefront of the regional projects market in 2022 and beyond.
However, longer term, there are still question marks over what will happen to the projects market once the World Cup is over. This is an issue for which there is still no clear answer, and which the government is expected to reveal over the next two years as part of its 2030 Vision which will drive a large part of the future project programme.
However, whatever happens the massive investment in the LNG programme is certain to provide a substantial injection to the local economy. During the last large-scale LNG ramp-up in the 2000s, this injection of investment created an economic and projects boom, and it would not be a surprise if this were to happen again.
Qatar Projects H2 2021 is the update to this year’s H1 report.
Focused on data, it is aimed at helping companies create strategies for targeting and growing the market. It uses almost exclusively data from MEED Projects (www.meedprojects.com), the region’s leading online projects tracking service. With 15,000 active projects tracked and more than 35,000 in total in the database, MEED Projects makes it possible to quantify current, historical and future trends in the projects market in the region.
I am certain that this report can help you achieve success in Qatar.