DOHA: A recent five-year forecast by Ventures Middle East says Qatar's construction sector, which contributes 7.2 per cent to the economy (2009), is expected to grow at a compound average growth rate (CAGR) of 12 percent from $7bn in 2010 to $12bn in 2015.
Total building construction spend in Qatar is estimated to soar to a staggering $53bn. The figure excludes projects on hold. The country's construction projects, in fact, constitute 13 per cent 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 per cent from $252m in 2010 to $436m in 2015.
Demand by volume is expected to increase from 1.4 million m2 (and 68,000 linear metre for kitchens) in 2010 to 2.4 million m2 (and 117,969 linear metre) in 2015.
In recent years, the use of aluminium for curtain wall systems and cladding for new and modern property developments has become more widespread, thus fuelling demand for aluminium 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 which underlines the government's strong move towards diversification of the manufacturing sector away from gas and oil, and increasing its GDP (gross domestic product) share beyond the eight percent recorded in 2009.
Qatalum, which is an equal joint venture between Qatar Petroleum and Hydro Aluminium of Norway, is expected to start producing prime aluminium in the fourth quarter 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 9 to 11 at the Dubai International Convention and Exhibition Centre, a press statement said yesterday.
© The Peninsula 2011
