Qatar’s construction sector witnesses strong recovery

31/01/21

Qatar’s construction sector is on the verge of a strong recovery according to data prepared and provided by the Planning & Statistics Authority (PSA). The number of building permits issued is an important indicator of the performance of the construction sector.

It includes the number of permits approved for residential and non-residential buildings including, but not limited or restricted to villas and apartments, offices, shops, stores and other commercial buildings, hospitals, schools, mosques, warehouses, workshops and factories and other buildings.

The numbers suggest that the construction sector has returned to pre-pandemic levels with a total of 972 building permits issued in December 2020, the highest number of the year. In addition, the data for the fourth quarter of 2020 saw the highest number of building permits with a total of 2,465. In comparison, a total of 7,805 building permits were issued in the twelve months or four quarters of 2020.

The increase in building permits translates into a higher demand for raw materials and manpower.

Due to the limitations and restrictions related to Covid-19 and the disruption of national, regional and international supply-chains, the activity in the construction sector severely decreased in the first half of 2020. The first quarter saw 1,996 building permits issued with 2,018 building permits in the second quarter of 2020 and 1,326 building permits in the third quarter of 2020.

The Ministry of Municipality & Environment has upgraded the electronic management systems which results in a more streamlined service including, but not limited or restricted to the approving and issuing of building permits, awarding of certificates of building construction completion and other services. These improvements save time and effort for all involved.

Please click on the link and reach out to learn more about the latest developments in the construction sector in the State of Qatar as well as Business Start Up Qatar.

Other News

BSUQ News 44 - Thumb

Qatar records budget surplus of QAR 43 billion for 2023

Qatar`s Ministry of Finance recently revealed fourth quarter results led to a total budget surplus of QAR 43.1 billion (USD 11.84 billion) for the last fiscal year.

Data revealed that during the fourth...

Read more
BSUQ News 43 - Thumb

Qatar announces huge increase in North Field gas reserves

Qatar Energy has announced a new LNG expansion project, which will increase production capacity to 142 million tons per annum (MTPA).

Termed as the ‘North Field West’ project, completion is scheduled...

Read more
BSUQ News 45 - Thumb

Qatar offers expats high salaries and great standard of living

Qatar ranks among the most affordable tax free countries to relocate to in 2024, according to a recently published study.

The report noted that the State of Qatar has a [population of approximately...

Read more
BSUQ News 44 - Thumb

Startup Qatar Investment Programme launched for startups

Qatar Development Bank has announced the launch of its Startup Qatar Investment Programme, which provides funding and assistance to tech startups seeking to establish or expand operations in Qatar.

The...

Read more
BSUQ News 43 - Thumb

Qatar Islamic Fintech market to reach QAR 14.6 billion by 2027

Qatar’s Islamic Fintech market is projected to grow to QAR 14.6 billion (USD 4 billion) over the next three years, according to a recent Global Islamic Fintech (GIFT) report.

The report estimated...

Read more
BSUQ News 42 - Thumb

Qatar’s population hits 3 million as imports and exports rise

Qatars population reached the three million mark in January 2024, according to information released by the country`s Planning and Statistics Authority (PSA).

The exact population was recorded as 3,118,000,...

Read more
BSUQ News 41 - Thumb

Moody’s upgrades Qatar’s credit rating to AA2

Qatar`s credit rating has been upgraded to AA2 by Moody’s, who also revised the States outlook to stable based on Qatar’s positive financial metrics from 2021 to 2023.

Additionally, [the trusted...

Read more
BSUQ News 40 - Thumb

Qatar committed to protecting personal data in age of AI

Qatar Financial Centre (QFC) recently organised a seminar entitled “Data Protection in the Age of AI” which coincided with International Data Privacy Day.

The event was held in collaboration with...

Read more

Page Break