|
|
Qatar Infrastructure Report Q1 2010Published by: Business Monitor International Published: Jan. 12, 2010 - 77 Pages Table of Contents
AbstractBig-ticket infrastructure projects in the country are sustaining construction activity, and with many more in the pipeline, Qatar will continue to be one of our best prospects for growth in the construction industry over the mid term. In BMI’s Q110 Qatar Infrastructure Report we have revised up our forecast for Qatar’s construction industry nominal value for 2009, which we are now estimating to reach QAR21.61bn (US$5.94).Qatar’s infrastructure sector has been defined by a small number of large-scale projects over recent years, with major new transport infrastructure assets under construction. Transport has been the predominant beneficiary of this investment, and this is set to continue with the creation of the Qatar Railways Development Company (QRDC) in November 2009. Formed by a partnership between DB International and Qatari Diar, the company will implement Qatar’s roughly US$17bn plans for establishing a national rail network. Plans include a metro system for Doha, a line linking to Saudi Arabia, 325km of freight rail lines, the majority of which will also have passenger services and a highspeed rail line to Bahrain (part of the Qatar-Bahrain Causeway). A concrete starting date for construction work on the Qatar-Bahrain causeway is still to be announced as price negotiations continue between the Qatar Bahrain Causeway Foundation and the Vinci-led consortium building the project. The latest estimate is that work will begin in the first quarter of 2010. An official opening date for the US$14bn New Doha International Airport has, however, been announced, with the project now due to be completed in 2011, as two phases were merged into one. Strong nominal growth has been registered for the first two quarters of the year, according to data released by the Qatar Statistics Authority. In Q109 year-on-year (y-o-y) growth was 20.67% in nominal terms, with 17.3% y-o-y nominal growth in Q209. Consequently we are estimating 18% nominal growth for the year. While this is strong growth, it must be noted that this does still represent a slow-down from 2008, where nominal growth was 24% y-o-y. The misleading figures really come into play in terms of real growth, whereby 15% inflation in 2008 pushed real growth rates down to 9%, whereas deflation of 4% in 2009 has pushed up real growth estimates to 23%. Qatar comes top in our Middle East Business Environment Ratings for the quarter, with a score of 64.5 out of 100. The country performs well, mostly owing to the potential for its infrastructure market over our 2009-2014 forecast period. It presents few limits to potential returns and limited risks; however, middling scores for the country's legal framework and financial infrastructure prevent its score from being even higher. However, recent contract disputes with Bilfinger Berger regarding the construction of the Doha Expressway have left the German company threatening to quit the emirate, and may taint perceptions of the country’s business environment. Get Full Details About This Report >> |
|
|||
|
About MarketResearch.com
|
||||