Qatar’s construction sector is expected to grow at an average 12% until 2015 and the total spend in the sector is expected to reach $53bn, according to Ventures Middle East.
In view of this tremendous growth, Qatar’s demand for fabricated aluminum products is slated to grow by an average 12% during the next four years to reach $436mn by 2015.
“Qatar’s construction sector, which contributes 7.2% to the economy (2009) – is expected to grow at a compound average growth rate (CAGR) of 12% from $7bn in 2010 to $12bn in 2015,” Ventures Middle East said in its latest report.
The total building construction spend in Qatar is estimated to reach $53bn, excluding projects on hold, it said, adding the country’s construction projects constitute 13% of the total projects in the GCC region in terms of value.
Property development in Qatar is expected to witness tremendous growth following the country winning the bid to host the FIFA World Cup in 2022, said a spokesman of Reeds Exhibition, organisers of Aluminum Dubai in May.
This construction boom is forecast to add billions of dollars worth of real estate and infrastructure projects in Qatar, and will in turn drive a much stronger demand than previously foreseen for aluminium products.
The construction boom in Qatar has also boosted the country’s aluminium sector with demand for fabricated aluminium products in the construction industry expected to increase at a CAGR of 12% from $252mn in 2010 to $436mn in 2015.
Demand by volume is expected to increase from 1.4mn sqm (and 68,000 linear metres for kitchens) in 2010 to 2.4mn sqm (and 117,969 linear metres) in 2015.
Qatar’s rise in the global aluminium industry as both a consumer and producer of aluminium products is marked by the construction of $5.6bn Qatalum, which underlines the government’s move towards diversification and increasing its GDP share.
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