Qatar to spend $4bn on new stadiums
Doha, March 31, 2011
Qatar has allocated $4 billion to build nine stadiums and upgrade three more in preparation for the country’s hosting of 2022 Fifa World Cup, said the organisers of an upcoming construction trade event in Doha.
Project Qatar 2011, the eighth international construction technology and building materials exhibition, will run from May 2 to 5 at the Doha Exhibition Centre.
The event will unveil Qatar’s top construction opportunities under one roof to complement the national infrastructure agenda. Organiser IFP Qatar will build a 30,600 sq m air conditioned extension to the existing exhibition space to create the largest temporary structure ever built in the Middle East, to support the premier construction trade event.
“The FIFA World Cup in 2022 will definitely accelerate Qatar’s growth as one of the region’s most dynamic construction markets,” said Michel Gebrael, project manager, Project Qatar 2011.
“The country is already undertaking some of the most ambitious projects in the Arab World, such as The Pearl Qatar, the Museum of Islamic Art and Education City, to further enhance the diversity of its construction activities.”
“Project Qatar 2011 will be a key platform for regional and international suppliers, contractors and investors to capitalize on local opportunities represented by the World Cup and other growth factors such as increased demand for luxury developments and a rising population,” Gebrael added.
Project Qatar 2011 will build on the success of last year’s event, which drew in more than 32,000 visitors to view the products and services of 812 international exhibitors from 39 countries in 40,000 sq m of prime exhibition space.
This year’s event will extend the exhibition area further to almost 50,000 sq m to showcase all the offerings of over 1,000 leading exhibitors from all around the world.
The number of represented countries is set to exceed 45, with the largest national pavilions to be set up by the UAE, Germany, Turkey, France and China. Of the 40,000 visitors, 8,000 are expected to be international trade personnel.
Aside from investments into its sports facilities, Qatar will also spend around $86.5 billion on other infrastructure developments as part of efforts to sustain national diversification efforts, a statement said.
The country plans to make the construction and other non-energy sectors account for 80 per cent of the economy by 2015, it added. – TradeArabia News Service