Qatar spending spree to continue in 2016
February 2016, Doha, Qatar: Qatar is set to award more than $22bn worth of new contracts in 2016 as it maintains its spending spree in advance of the FIFA 2022 World Cup. Details of these new projects, together with some of the challenges they represent, will be outlined at the annual MEED Qatar Projects Conference in Doha on 15-16 March 2016.
The forecast of $22.2bn worth of contracts to be awarded in the state this year is some 24 per cent lower than the $29.3bn worth of deals awarded in 2015, primarily due to lower oil prices but also thanks to a renewed focus on existing project delivery rather than the launch of new schemes. However, this year’s figure is also almost exactly in line with Qatar’s $22.3bn contract award average experienced over the past five years.
“Like all GCC states, Qatar’s is set to spend less this year as government revenues are impacted by lower oil prices,” says Ed James, Director of Content & Analysis at regional projects tracker MEED Projects, which created the forecast. “Nonetheless, the projects market in the state is expected to continue apace as the authorities press ahead with their capital investment plans as the deadline for the World Cup looms closer. This will ensure a healthy pipeline of new projects will come to the market throughout 2016, providing numerous new opportunities for suppliers, contractors and vendors alike.”
Prestigious keynote speakers at the event will be H.E. Sheikh Ahmed bin Jassim Al Thani, Minister of Economy and Commerce together with H.E. Eng. Nasser bin Ali al-Mawlawi, President of Ashghal, the largest single client in Qatar. With more than $30bn worth of projects either planned or under construction, Ashghal is a key stakeholder in Qatar’s future development, and will outline its vision for the state at the event. It will also reveal details of its major challenges as well as how companies can work more closely with it to achieve its objectives.
Ashghal’s major projects include the $10bn-plus expressway and local roads and drainage programmes, the Inner Doha Re-Sewerage Implementation Strategy (Idris); and the major public buildings programme. Other key projects set to be awarded or tendered this year include the first phase of the $15bn long-distance passenger and freight network, and the estimated $2bn expansion of Hamad International Airport. All these projects, along with many others comprising the more than $200bn worth projects in the pipeline, will be presented at the event to be held at the St Regis Hotel, Doha.
Other speakers includes Saud Abdullah Al-Attiyah, Director of Economic Policies and Research Department at the Ministry of Economy and Commerce in Qatar, Ahmed Nassar Al Kowsi, logistics Director and Kaldoon Truman, Senior Director of Contracts and Procurement both from Qatar Rail, Mohammed Al Malki, Chief Planning Business Development Officer at Manateq, Atter Exxat Hannoura, Director of PPP Central Unit at the Ministry of Finance in Egypt and senior representatives of the Public Works Authority (Ashghal) will also address the conference.
Topics to be covered will include: An exclusive update on the implementation of PPP regulations in the $200 bn Qatari projects market, Evaluating the existing funding options to finance mega project programmes in Qatar, Discussing the critical challenges facing project owners and contractors from the initial stage of recruiting through to project delivery - the lessons learned, Managing risk and mitigating disputes in the Qatari project market through well-constructed contracts, Discussing the upcoming plans for growth and development of the hospitality industry in Qatar, Delivering efficiency in logistics for the construction of mega projects in Qatar and a recent update of the existing and future mega projects happening in Qatar.
“Qatar’s going to lead the region and the world once more with further progress in the execution of its inspiring vision for the years to 2030,” says Richard Thompson, Editorial Director of MEED Magazine. “Lower oil prices can’t be ignored, but it’s clear that Qatar has the financial and human resources overcome this challenge. The MEED Qatar Projects Conference will be the perfect place to learn how Qatari, regional and global businesses can play their part in delivering the vision.”
The MEED Qatar Projects Conference is under the patronage of H.E. Sheikh Ahmed bin Jassim Al Thani, Minister of Economy and Commerce in Qatar, endorsed by the Ministry of Economy and Commerce in Qatar and in partnership with Ashghal.
The current esteemed partners for the 2016 Qatar Projects Conference include QNB as the Strategic Event Partner, Mashreq as the Silver Sponsor, IBQ as the Gala Dinner Sponsor, Manateq as the Economic Zones Partner and Stream and Eco as exhibitors.