Property development in Qatar is expected to witness tremendous growth following the country winning the bid to host the FIFA World Cup in 2022. New projects are expected to be developed in the hospitality infrastructure and sports sectors over the next decade to prepare Qatar for the prestigious event which will draw tens of thousands of new visitors and strengthen the country’s position a destination for leisure and business tourism. This construction boom is forecast to add billions of dollars worth of real estate and infrastructure projects in Qatar and will in turn drive a much stronger demand than previously foreseen for aluminium products.
According to a recent five year forecast by Ventures Middle East, Qatar’s construction sector which contributes 7.2% to the economy is expected to grow at a compound average growth rate of 12% from USD 7 billion in 2010 to USD 12 billion in 2015. Total building construction spend in Qatar is estimated to reach USD 53 billion excluding projects on hold. The country’s construction projects in fact constitute 13% of the total projects in the GCC region in terms of value.
The construction boom in Qatar has also boosted the country’s aluminium sector with demand for fabricated aluminium products in the construction industry expected to increase at a CAGR of 12% from USD 252 million in 2010 to USD 436 million in 2015. Demand by volume is expected to increase from 1.4 million square meters in 2010 to 2.4 million square meters in 2015.
In recent years, the use of aluminum for curtain wall systems and cladding for new and modern property developments has become more widespread, thus fuelling demand for aluminum in the construction sector. Many of the announced construction projects in Qatar are high rise buildings that implement a modern architecture where curtain walls and cladding are highly used.
Qatar’s rise in the global aluminium industry as both a consumer and producer of aluminium products is marked by the construction of Qatalum, one of the world’s largest aluminium smelter plants at the cost of USD 5.6 billion which underlines the government’s strong move towards diversification of the manufacturing sector away from gas and oil, and increasing its GDP share beyond the eight per cent recorded in 2009. Qatalum which is an equal joint venture between Qatar Petroleum and Hydro Aluminium of Norway is expected to start producing prime aluminum in the Q4 of 2011.
The business opportunities arising in the aluminium market in the Qatar will be discussed at the 2nd edition of Aluminium Dubai, the local version of Reed Exhibitions’ global series of aluminium events which also covers India, China and Germany. The leading aluminium trade show for the Middle East will be held from May 9th to 11th 2011 at Sheikh Saeed Halls 2 and 3 of the Dubai International Convention and Exhibition Centre.
Mr Tarek Ali show manager of Aluminium Dubai, Reed Exhibitions said that “The construction boom combined with major developments in the aluminium production sector offer Qatar exceptional synergy in the aluminium industry as an emerging player which will further boost the highly dynamic market in the GCC and beyond. We look forward to industry players sharing their thoughts on Qatar with our guests at the upcoming edition of Aluminum Dubai.”
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