The frantic rate of construction is continuing in Qatar despite the global drying up of credit - and despite the forced merger of two of the largest property companies in Qatar, Barwa and Qatar Real Estate: see our earlier post on the subject - Pressure on Qatar Property Firms.
Growth in consumption of key materials such as concrete reached almost 25% in 2007-2008 and is a major factor in the delays plaguing a number of projects. Demand in the rest of the world, on the other hand, saw a fall of 20-30%.
Of course, as the Chairman of the Bank of England once pointed out, relying on statistics from the past to make guesses about the future is like trying to drive a car using the rear-view mirror.
The time lag between the existence of demand, the collation of statistics and the publishing of those statistics only exaceberates the situation.
However, the very scale of projects planned or under-way mean that the scale of building and the demand for building materials is likely to continue for the mean time.
Some private projects may fall by the wayside, but with the the massive plans the government has for the country - including a bridge which will span the sea between Bahrain and Qatar - construction is not going to come to a halt for some time.
We leave you with a movie of how Qatar sees its future:
Find Construction Companies on Qatar.
Qatar Property Articles
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