Wednesday 7 December 2011

Investors Chronicle - Qatar, a land of opportunity

Qatar looks to be the place to be at the moment, for there seems to be no shortage of funds when it comes to beefing up the state's infrastructure ahead of hosting the 2022 football World Cup and also its bid to hold the 2020 summer Olympics. Indeed, the authorities have already pledged to spend around £65bn on infrastructure ahead of the football tournament alone.

And patient investment by several UK companies is, at last, beginning to pay off. Construction group Carillion has just been awarded its first contract, worth £316m as part of a joint venture with Qatar Building for a major phase of the Msheireb Downtown Doha project. Work will begin this month on the new development which will include retail, commercial, residential and leisure facilities over a 31 hectares site.

Meanwhile, engineering and design consultant Atkins recently clinched a five-year contract worth more than £65m with Ashghal, Qatar's public works authority, to help upgrade the roads and drainage systems in the capital city Doha. Atkins opened an office in Doha nearly 10 years ago, and has already secured work on several highway projects.

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