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Hamad Port has handled approximately 4 million tons of construction materials over the past five years; indicating the rapid pace of infrastructure development in the country ahead of the FIFA World Cup.
Statistics regarding building materials handled by Hamad Port were leaked by Mwani Qatar in a tweet.
“Mwani Qatar processes thousands of tons of cargo every month through Hamad Port. Over the past five years, about 4 million tons of construction materials have been handled to meet the needs of infrastructure projects in the country,” he said.
The growth comes against the backdrop of strong double-digit growth in the total number of building permits issued in the country on an annualized basis, according to figures from the Planning and Statistics Authority.
Data on building permits is of particular importance because it is considered an indicator of the performance of the construction sector which, in turn, occupies an important place in the national economy.
The latest report from the Planning and Statistics Authority suggests that Qatar recorded a strong double-digit year-on-year increase in building permits issued in September, with Doha, Al Rayyan and Al Wakra topping the national average.
The latest PMI (purchasing managers’ index) data from the Qatar Financial Center suggests the rebound in the non-oil sector, in particular construction.
The construction sector has seen a surge in demand as the country races to host the FIFA World Cup, which kicks off next month.
The rapid completion of infrastructure projects as well as the PPP (public-private partnership) model has accelerated the sector’s rebound, market sources said.
A total of 352,560 tons of construction materials were handled by Qatar’s ports in the first nine months of this year, according to data from Mwani Qatar.
Construction materials handled by ports amounted to 592,452 tonnes in 2021, showing a robust growth of 66% year-on-year. In 2020, the level was 357,493 tonnes, down 6% at an annualized rate.
In 2019, it increased by around 17% year-on-year to 378,711 tons and in 2018 it stood at 324,248 tons, which nevertheless fell by 44% year-on-year. It was 576,278 tonnes in 2017.
The fastest growing sector in the country, construction is booming in Qatar, with the government planning to spend more than $200 billion on a major infrastructure overhaul.
Many expensive projects, especially in tourism, education and real estate, are expected to bolster economic diversification efforts, as foreseen in the Qatar National Vision 2030.