Qatar ‘set to award $30bn deals next year’

Qatar’s projects market is expected to be crowded even in 2016 as the country gears up preparations to host the FIFA World Cup in 2022, a new report has shown.

New contracts worth $30bn will be awarded in the country in 2016, Samba Financial Group said in its latest Qatar report.

Quoting Meed, the report said that Qatar was expected to be the “fastest-growing GCC projects market” in 2015, again with $30bn worth of new contracts to be awarded during the year.

About $135bn worth of contracts is due to be awarded in Qatar between 2015 and 2020. While elevated project activity will bring widespread opportunities, including for banks, Samba said there were worries about implementation constrains, given the vast amount of resources needed to undergo such projects.

According to Samba, the government’s investment programme would be one of the “key determinants” of economic performance over the medium-term.

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Source News: Gulf Times