Gas-rich but conservative Qatar may be maligned by some as a johnny-come-lately to the football scene, but Doha’s successful bid to host the World Cup in 2022 has transformed the emirate into a promised land for contractors.
Official estimates put the planned spending on infrastructure, hotels and 12 eco-friendly stadiums at about $55bn. Shuaa Capital, a regional investment bank, estimates that the final cost of the month-long sporting festival could be as much as $86.5bn.
Much of the forecast expenditure is made up of existing long-term projects that will now be accelerated, but it will nonetheless provide a welcome fillip to the region’s construction sector.
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