The Construction and Real Estate sectors are growing rapidly. In 2006, the combined sectors witnessed 17.7% growth over 2005, contributing QR10,291 million to the overall GDP. At the same time, credit facilities extended by commercial banks to the land, housing and construction sector increased by a massive 65% during 2006 to reach QR15,745 million.

Among the largest real estate developments in the country is Qatari Diar’s Lusail City, which will house about 200,000 residents on the coast just north of Doha’s West Bay Lagoon area.

A private sector development, known as ‘The Pearl- Qatar’, is a 985 acre US$50 billion island development on reclaimed land 350 metres off the shores of West Bay Lagoon which will house around 40,000 residents in 13 districts. Work on numerous other commercial, residential and industrial developments is in progress, both inside and outside the capital.

A causeway between Qatar and Bahrain, scheduled to open in 2011, will increase trade options between the two countries and revised proposals have also been submitted for a bridge linking Qatar and Abu Dhabi.

 

Qatar’s leisure  and tourism sector continues to grow in a planned manner, concentrating on the cultural, sports, education, health and MICE sectors (meetings, incentives, conferences and exhibitions) rather than encouraging mass tourism. The country continues to host major international sporting events and its success in hosting the Asian Games in 2006 together with its status as a Bid City for the 2016 Olympics have further enhanced its reputation.

Qatar’s spectacular new Museum of Islamic Arts, containing some of the most prized collections in the world, had its formal opening in November 2008.

The Trade, Restaurants and Hotels sector contributed QR 7,616 million (4%) to Qatar’s overall GDP in 2006, an increase of 10.9% over the previous year.

Qatar is a destination that is preparing to welcome the world, thanks to massive investment on infrastructure. The State of Qatar is investing US $17 billion over the next five years on tourism infrastructure, including the construction of luxury hotels, resorts and other leisure facilities. Among the major infrastructure projects set to open by 2012 are the New Doha International Airport with an estimated annual traffic of 50 million passengers, and two new exhibition and convention centres with 45,000 square metres of exhibition space.

Last but not least, the fast pace of increasing hotel capacity, with more accommodation due to come online, is totaling a 400% increase in hotel capacity, with over 29,000 luxury rooms and furnished apartments by 2012.

 

The development of Qatar Foundation’s prestigious Education City with its tertiary education and research institutions, together with the Qatar Science and Technology Park (QSTP), is providing a sound infrastructure for Qatar’s evolving knowledge-based economy. QSTP is meanwhile attracting major research projects and technology-based industries while fostering Qatari entrepreneurship in the science and technology sectors.

Qatar University has tailored its courses to meet the country’s future manpower needs, and the university – indeed the whole school system – has undergone a complete revamp to bring its courses in line with the technology of the 21^st century while not neglecting the teaching of the country’s Arab and Islamic heritage.

 

Adding to the existing extensive health network in the country, the QR1.5 billion Hamad Medical City project utilises the site developed as the Athletes Village for the 2006 Asian Games and will include a 300-bed unit, a dialysis unit, laboratories and accommodation for medical staff. Two other new hospital projects are also in the construction phase: the estimated QR220 million Southern Area Hospital at Wakrah with a 200-bed facility, and the estimated QR100 million Cardiology Hospital at Rumaillah with a 110-bed facility.

Qatar Foundation’s ‘Sidra Medical and Research Centre’, with a US$7.9 billion endowment, will open at Education City in 2011 as the world’s first fully-digital hospital.

 

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