A lot of different large scale projects are heading towards Qatar. This news comes as no surprise when several hundred
bankers and financial experts gathered in mid –March for the annual MEED Middle
East Project Finance conference.
With $130
billion worth of projects to finance over the
next decade Qatar is a natural focus for what is
increasingly an international rather than a
regional business. Qatar came second only to
China as a consumer of project finance in
2005.
The scale and range of projects
which are now being undertaken in Qatar are
immense, and encompass the development of
essential infrastructure needed to exploit and
export LNG globally, and to invest in water and
power, airport and hospitals, free zones, sports
complexes and hotels, roads and educational
institutions locally.
Among the major projects underway:
- New
Doha International Airport
(NDIA): Construction work has begun during the last quarter of 2003 of the
new USD5.5bn Doha International Airport.
- By December 2006, about 1,000
additional hotel rooms were added to the 2,600 currently available. This
is in addition to the 20 per cent expansion in Qatar’s residential stock – a
challenge that has seen rents spiral until the government imposed a 10%
ceiling on rent increases.
- The Pearl- Qatar is a US$2.5
billion real estate development which has already started with phase one
expected to be completed during the last quarter of 2008.
- Lusail Development project is a
21square kilometers real estate venture that is designed to be home to
over 200, 000 inhabitants in modern lifestyle environment. The project
lies north of Doha
and is being managed by Diar.
- The Education
City is another major development
that involves the private sector in bringing the world’s leading academic
institutions to Doha.
- Current projects in the oil and
gas sector in Qatar
amount to more than US$60 billion.
Visiting Doha will give you a first hand impression of
what it is like to be in one of the fastest growing economies of the world
today. The Sabban
Towers project in The
Pearl-Qatar gives you a lifetime opportunity to be part of this booming real
estate market.
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