The report of Al-Asmakh Real Estate Projects Company confirmed that the large package of contracts related to the projects that the state is working to complete in addition to the new projects to be implemented during the current year, which are managed by the concerned authorities in the state, is the main axis that will enhance the growth process of the construction sector during this year. These projects will contribute to the development of the infrastructure, education and health sectors.
The report indicated that financial resources have been allocated for the programs and projects of the third national development strategy, and the necessary allocations have been provided to continue the approved infrastructure projects, especially those related to the development of new and existing citizens’ lands, as official data shows that more than 22 new projects at a total cost of 9.8 billion riyals will be seen. Al-Nour is among the spending scheduled to reach 64 billion riyals on major projects during the current year. Among these projects are 14 projects based on an assessment of priorities at a value of 5.5 billion riyals and 8 projects based on new projects that have been committed to a value of 4.3 billion riyals, in addition to the planned spending for the sustainability of facilities. Public and infrastructure that will have an important role in the post-World Cup stage, as the country has built an integrated infrastructure that will be a fundamental pillar for the development and prosperity of the local economy.
The report of Al-Asmakh Real Estate Projects said: The sectors of building materials, cement, iron and related services will benefit from the positive effects of the contracts awarded for these projects, especially those related to the construction of buildings.
Al-Asmakh’s report said: The volume of spending on development projects in Qatar will enhance the growth of the building construction sector, which in turn will be reflected in economic growth, whether at the sectoral or macro level.
The report added: The rate of government spending is one of the most important factors leading to the growth of the real estate sector, pointing to the existence of strong competition in the contracting sector due to the huge sums of money that have been pumped into infrastructure projects related to development projects.
Land prices and transaction values
The report of Al-Asmakh Real Estate Projects Company said that the values of real estate transactions witnessed a low performance compared to the previous week, according to the data of the latest bulletin issued by the Real Estate Registration Department at the Ministry of Justice for the week extending from “May 14 to May 18.”
