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Qatar invests US$200 billion for 2022 FIFA World Cup

Qatar invests US$200 billion for 2022 FIFA World Cup
July 12, 2013

Qatar plans to spend $200 billion over the next decade as it prepares to host the 2022 FIFA World Cup.

According to a recently released report from global consultancy Deloitte, $140 billion of that will be for transportation infrastructure including a new airport, roads and a metro system to deal with the 400,000 fans expected for the month-long tournament.

Having been selected to host the 2022 FIFA World Cup, Qatar is seeking to position itself as a regional sporting hub. Qatar National Vision 2013 and programs such as Q2022 are focusing on leaving a legacy for Qatar in terms of football, infrastructure and economic development.

The Deloitte report, 'Insight into the Qatar construction market and opportunities for real estate developers', looks into the Qatar Government's strategy of promoting sustainable tourism with the purpose of attracting more tourists and visitors.

Deloitte experts expect the influx of fans attending the event to also bring with it an increased demand for accommodation, with numerous worldwide chain hotels actively considering investments in the country.

In addition, the Qatar Tourism Authority plans to invest about US 20 billion on tourism infrastructure as the number of tourist arrivals grows at a rate of 15.9% compounded annually, to reach 3.7 million by 2022. This growth also creates opportunities for the development of commercial units, such as various shopping malls around Qatar.

Environmental sustainability has become a key item in the Government's agenda. One of the key goals for the Q2022 program is to improve environmental sustainability, not only limited to the event but also for the entire country. The Deloitte report suggests that the program may deliver a new environmental sustainability standard and improve nationwide awareness.

Explaining the opportunities for developers in the region, Deloitte Corporate Finance Limited Infrastructure & Capital Projects Managing Director Jesdev Saggar explains "with the world focused on Qatar's every move, it is imperative that the local industry prepares itself for the plethora of international organisations that are ready to descend on Doha.

"Preparing for the competition is as important to everyone on the built environment, as it will be when the games start."

These findings are in line with the 'GCC Powers of Construction: Meeting the challenges of delivering mega projects' report issued by Deloitte during May 2013. The fourth publication in its series and the only one of its kind among the Financial Services industry in the Middle East In a region, the GCC Powers of Construction report highlights that the ingredients for capital projects could not be better in the GCC region as the I&CP (Infrastructure & Capital Projects) market is growing rapidly with governments announcing projects across the Middle East region, utilising trillions of petro-dollars over the coming years.

According to this Deloitte report, clients' increasing need for transparency, predictability and sustainability of what they spend provides contractors with an opportunity to reflect on how they can meet this by better operational performance, improved procurement, schedule management and cost reporting.

The Deloitte GCC Powers of Construction report is produced based on data gathered from surveys and data, supported by interviews with some of the most prominent industry leaders from the region.

Looking at Qatar, which it identies as the third most active GCC construction market in 2012, with US$10.4 billion worth of contracts awarded, the report highlights that infrastructure dominated Qatar's construction sector, with four of the five biggest contracts awarded for major transport projects.

It also suggests that hosting the FIFA 2022 World Cup should yield considerable contracts across the construction and infrastructure sectors.

22nd November 2012 - QATAR FACES FIFA WORLD CUP BID INVESTIGATION AND INFRASTRUCTURE CONSTRUCTION CHALLENGES 

15th November 2012 - QATAR SPORTS VENUE MASTER PLAN REVEALED AT ASPIRE4SPORT CONGRESS

13th January 2012 - QATAR’S ASPIRE ZONE NAMED WORLD’S LEADING SPORTS TOURISM DEVELOPMENT PROJECT

16th May 2011 - QATAR SHOWCASES STADIUM COOLING TECHNOLOGIES

3rd December 2010 - QATAR WINS 2022 WORLD CUP BID


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