2013 Entails Heightened Infrastructure Development in Qatar
Infrastructure development projects worth over $350 billion have been planned across the GCC countries in 2013, of which Qatar will account for projects valued at $45 billion.
April 28, 2013
Doha Bank Group CEO, Dr. Seetharaman highlighted the trends impacting infrastructure development at the Real Estate, Infrastructure & Urban Development summit organized by Doha Bank recently. “The country is expected to grow by more than 5% in 2013. According to Qatar’s National Development Strategy, aggregate GDP growth in the 2012-2016 period is expected to average 6.9%, of which hydrocarbon growth is expected to be 4.4% and non-hydrocarbon growth 9.1%,” he said.
The summit, focusing on opportunities and trends in Qatar’s real estate, construction and infrastructure development, was attended by leading local and GCC consultants and advisory firms. “Qatar’s economic diversification will result in sustainable growth in real estate and infrastructure. Qatar’s budget for 2013-2014 has also increased allocation for infrastructure with the maximum increase in spending on public projects,” stated Seetharaman, who chaired the event.
At the ceremony, the President’s executive office of the Public Works Authority (Ashghal) announced that more than $30bn would be allocated for the implementation of over 700 projects to meet the objectives of Qatar National Vision 2030.
According to presenter Vinod Kambrath, Senior Strategic Specialist at Ashghal, the projects will provide infrastructure development across the nation in the form of advanced road setups, sewerage projects, government and public buildings and city beautification.
Sven Gade, Group CEO of PKF-The Consulting House, echoed Kambrath’s views by saying that the majority of “project failures were due to incomplete development programme definitions”.
Other participants of the summit included representatives of The Boston Consulting Group, KEO International Consultants and Gulf Organization for Research and Development (GORD).
CA News Network