Qatar plans to invest $ 140 bn in transport infrastructure

Updated 12 July 2013
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Qatar plans to invest $ 140 bn in transport infrastructure

A recent Deloitte report entitled ‘Insight into the Qatar construction market and opportunities for real estate developers’ examines the construction market in Qatar and assesses opportunities for real estate developers in the country. Having been selected to host the FIFA World Cup in 2022 brought forth the opportunity for Qatar to position itself as a regional sporting hub. Qatar National Vision 2013 and programs such as Q2022 are focusing on leaving a legacy for Qatar in terms of football, infrastructure and economic development.
The Deloitte report looks into the government’s strategy of promoting sustainable tourism with the purpose of attracting more tourists and visitors. Projects such as the Qatar-Bahrain causeway is an example of this strategy, as it will help drive regional tourist arrivals in Qatar.
In terms of infrastructure, the Deloitte report examines Qatar’s plans to invest over $ 140 billion in transport infrastructure in anticipation of the FIFA World Cup 2022. Plans to construct new roads and a metro system have been put forth in order to support the anticipated influx of football visitors in addition to the airport expansion, which is already under way.
Deloitte experts expect this influx to also bring with it an increased demand for accommodation, with numerous worldwide chain hotels actively considering investments in the country. In fact, Qatar Tourism Authority plans to invest about $ 20 billion on tourism infrastructure as the number of tourist arrivals grows at a rate of 15.9 percent compounded annually, to reach 3.7 million by 2022. This growth also creates opportunities for the development of commercial units, such as various shopping malls around Qatar.
Environmental sustainability has become a key item in the government’s agenda. One of the key goals for the Q2022 program is to improve environmental sustainability, not only limited to the event but also for the entire country. The Deloitte report suggests that the program may deliver a new environmental sustainability standard and improve nationwide awareness.
It is evident that immense opportunities exist for developers in the region and beyond, due in part to the infrastructure requirements of the FIFA World Cup 2022, and also as part of realizing Qatar’s national vision. Jesdev Saggar, managing director, infrastructure and capital projects at Deloitte.
Corporate Finance Ltd. commented: "With the world focused on Qatar’s every move, it is imperative that the local industry prepares itself for the plethora of international organizations that are ready to descend on Doha. Preparing for the competition is as important to everyone on the built environment, as it will be when the games start."
These findings are in line with the "GCC powers of construction: Meeting the challenges of delivering mega projects" report issued by Deloitte during May 2013. The fourth publication in its series and the only one of its kind among the financial services industry in the Middle East.
The GCC Powers of Construction report highlights that the ingredients for capital projects could not be better in the GCC region as the I&CP (infrastructure and capital projects) market is growing rapidly with governments announcing projects across the Middle East region, utilizing trillions of petro-dollars over the coming years.

According to this Deloitte report, clients’ increasing need for transparency, predictability and sustainability of what they spend provides contractors with an opportunity to reflect on how they can meet this by better operational performance, improved procurement, schedule management and cost reporting.
The report highlights the case of Qatar, whereby Qatar was the third most active GCC construction market in 2012, with $ 10.4 billion worth of contracts awarded. Transport infrastructure dominated Qatar’s construction sector, with four of the five biggest contracts awarded for major transport projects. Hosting the FIFA 2022 World Cup should yield considerable contracts across the construction and infrastructure sectors.
"With significant investment in major infrastructure programs increasing over the coming years across the GCC, contractors, consultants and clients alike need to rethink the way they engage each other if they are to truly realize the benefits each can bring to the process," said Cynthia Corby, audit partner and leader of the construction industry for the Middle East.
As to Qatar, Deloitte suggests that successful bidders will have to take into consideration a number of factors such as alignment with Qatar’s 2022 program strategic objectives, adherence to sustainability and health and safety standards, innovation, quality and with an overall focus on the legacy theme, which is embedded in the strategy for delivering the Qatar 2022 World Cup. 


British PM May: 'I will not break up my country for EU Brexit deal'

Updated 21 September 2018
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British PM May: 'I will not break up my country for EU Brexit deal'

  • Theresa May hits back with angry statement after EU leaders rejected May’s Chequers plan
  • Sterling plummets as both sides warn they are planning for a no-deal scenario

LONDON: British Prime Minister Theresa May said on Friday Brexit talks with the European Union had hit an impasse, defiantly challenging the bloc to come up with their own plans a day after the bloc’s leaders savaged her proposals.
At a summit in Austria on Thursday, EU leaders rejected May’s “Chequers” plan, saying she needed to give ground on trade and customs arrangements for the UK border with Ireland.
The British media said the response had left her proposals in tatters, and May angrily struck back in a televised address from her Downing Street office, saying neither side should expect the impossible from the other.
“Throughout this process, I have treated the EU with nothing but respect,” May said. “The UK expects the same. A good relationship at the end of this process depends on it.”
Sterling extended its losses as May spoke, falling to as low as $1.3080, about 1.4 percent on the day, putting it on course for its biggest one-day drop this year, over growing fears Britain could leave the EU without any deal.
May has said the Chequers proposals for trade with the EU, which would resolve arguments over the border of Northern Ireland with the Irish Republic, were the only way forward. EU leaders in Salzburg repeated their view that the plans would undermine their cherished single market.
After the summit, EU leaders said they would push for an agreement next month, but both sides have warned they are planning for a no-deal scenario.
“It’s not acceptable to simply reject the other side’s proposals without a detailed explanation and counter proposals,” May said. “So we now need to hear from the EU what the real issues are, what their alternative is, so that we can discuss them. Until we do, we cannot make progress.”
May, who commands a majority in parliament only with the support of a small pro-Brexit Northern Irish party, said she could not agree to any deal which treated Northern Ireland differently to the rest of the United Kingdom.
The EU insists that there can be no hard border between the British province and the Irish Republic, with Northern Ireland remaining in the bloc’s customs union or effectively establishing a border in the Irish Sea if no alternative deal is reached.
“I will not overturn the result of the referendum nor will I break up my country,” she said. “We need serious engagement on resolving the two main problems in the negotiations and we stand ready.”
However, she said no matter what happened, the rights of three million EU citizens living in the United Kingdom would be protected.
Earlier, her Brexit Secretary Dominic Raab said some EU leaders had shown unstatesmanlike behavior in Salzburg.
“We’ve already compromised hugely with the Chequers proposals,” Raab told BBC TV. “What we’re not going to do is be salami sliced throughout this negotiation in a typical style that the EU engages in without movement on the other side.”
For the British media, the message from Salzburg had been clear. “Your Brexit’s broken,” the Daily Mirror newspaper said.
Newspapers led their front pages with a Reuters picture showing May, dressed in a red jacket, standing apparently aloof and alone from a mass of suited male EU leaders.
May faces a fight with angry Conservative lawmakers at her party’s annual conference from Sept. 30.
Many have voiced opposition to her plans, which they said would bind Britain into much EU regulation in return for free trade, and some would prefer a no-deal “hard Brexit” in March, despite warnings that would ravage the British economy.
“Theresa May’s Brexit negotiating strategy has been a disaster,” opposition Labour leader Jeremy Corbyn said. “The Tories have spent more time arguing among themselves than negotiating with the EU.
“The political games from both the EU and our government need to end because no deal is not an option.”
In response to May’s statement, the Confederation of British Industry and other business bodies said they wanted to see constructive dialogue, not rhetoric.
Last week, London Mayor Sadiq Khan added his voice to those including union and business leaders who said there should be a second Brexit referendum. Scotland’s top court ruled on Friday that the European Court of Justice should consider whether Britain could unilaterally change its mind on Brexit.
“The referendum was the largest democratic exercise this country has ever undergone,” said May, who has repeatedly ruled out a second vote following the original 2016 referendum. “To deny its legitimacy or frustrate its result threatens public trust in our democracy.”