Qatar Infrastructure Report Q2 2013 - New Report Available

Despite concerns about long lead-times in majority of planned projects and rising construction costs, we maintain our overall bullish outlook for Qatar's construction sector. Strong appetite for public spending coupled with a stable business environment will help ensure that Qatar will comfortably achieve its ambitious infrastructure development targets ahead of the 2022 FIFA World Cup and in line with its own 2030 Vision. For investors, these factors will position Qatar as a safe haven for regional investors, as highlighted in our Risk/Reward Ratings table.

We believe that Qatar's economic growth during 2013 will be largely driven by the non-hydrocarbon sector, with expanding domestic consumption and progress on infrastructure investments fuelling economic activity. However, weaker performance in the hydrocarbon sector will drag down overall growth, and we expect Qatar's real GDP to expand by 5.0% in 2013, down from an estimated 6.0% in 2012 and a yearly average of 15.6% during 2007-2011. The motivating factor for the infrastructure sector, however, is our view that fiscal policy is set to remain expansionary over the medium term, and we project government consumption to grow by a robust 12.0% in 2013.

Full Report Details at
- http://www.fastmr.com/prod/596882_qatar_infrastructure_report_q2_2013.aspx?afid=301

Key developments in Qatar's infrastructure industry include:

* Ahead of the 2022 FIFA World Cup, and in line with the country's 2030 Vision, Qatar's spending on infrastructure is expected to reach US$150bn. A series of infrastructure projects are in the pipeline, including: a US$1bn transport corridor project in Doha; a US$20bn investment in roads; US$25bn to be invested in railways; US$15.5bn to be spent on a new airport; US$4bn to be invested in stadiums; US$8bn to be spent on a deepwater seaport; tens of thousands of hotel rooms to be built; and even a new city.
* For 2013, the Qatari government has initiated a major infrastructure upgrade of the road network in the country, which is likely to result in a sharp increase in contracts to be awarded in 2013. The country is believed to have one of the busiest road markets in GCC to date, with contacts awarded so far being valued at US$1.8bn.
* The Qatari authorities kicked off 2013 with news that the construction of three metro rail stations in Qatar is likely to start imminently. The government has allotted QAR500mn (US$137.25mn) for the acquisition of land from private owners prior to the work commencing. The project entails four metro lines in Doha, tram routes in West Bay and Lusail, a high-speed line and dedicated freight railways. The first phase of the project is scheduled to become operational in Q419.

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