Qatar’s construction market to exceed QR133m in 2024

Doha, Qatar: Analysts in the country have noted an upswing trajectory growth for the country sector in Qatar this year. The industry is estimated to s...

Doha, Qatar: Analysts in the country have noted an upswing trajectory growth for the country sector in Qatar this year. The industry is estimated to surge by 4.40 percent and is expected to amount to QR133.5m in 2024, as per a recent report by Researches and Markets.

Amidst growing challenges in the region, the medium to long-term growth story in Qatar “remains intact”, the report said. However, in the next four quarters leading up to 2025, the construction market will be boosted and grow steadily

According to the experts, the momentum will further increase in the years ahead, registering a compound annual growth rate (CAGR) of 4.4 percent from 2024 until 2028. Meanwhile, the construction output in Qatar is anticipated to total QR154.2m in the next four years.

The market intelligence report offered an explicit view of Qatar’s opportunities in the building and infrastructure construction sector, which is poised for higher demand.

The report further states that the growth dynamics in building and infrastructure construction in addition to construction cost structure analysis by key areas in Qatar look optimistic.