Qataris replace Singaporeans as the richest built asset population, with a built asset wealth of USD 198,000 per capita compared to USD192,000 in Singapore. With investments in infrastructure, residential and non-residential buildings, Qatar’s built asset wealth will continue to grow at double digital levels for the foreseeable future.
The findings were released by Arcadis, a Design & Consultancy firm for natural and built assets in their latest report Global Built Asset Wealth Index.
According to the findings, Qatar has the fastest growing construction industry in the Gulf Cooperation Council (GCC), rapidly expanding at an annual rate of 18%, and is expected to continue at this rate for the next decade.
With the city touted to be holding the prestigious 2022 FIFA World Cup and the country’s 2030 National Vision, it will have a considerable impact on infrastructure investments over the next ten years. The country is expected to spend over USD150 billion in the next decade with USD20 billion in roads, USD40 billion in railways, USD40 billion in stadiums, USD8 billion in ports and tens of thousands in hospitality and social infrastructure. Moreover, the country has plans for further investment in transport infrastructure and water and electricity by 2020.
All this growth is subject to the supply of materials and there is a danger of substantial building material inflation unless the supply chain is carefully managed. What is less of an issue for Qatar when compared to the rest of the region, is the little impact to the country from falling oil prices, primarily due to the fact that Qatar exports LNG, which is not as susceptible to the oil market.
With investments in infrastructure, residential and non-residential buildings, Qatar’s built asset wealth will continue to grow at double digit levels for the foreseeable future.
