Economy and Commerce Minister Inaugurates Cityscape Qatar 2014
Under the patronage of HE Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, HE Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed Al-Thani inaugurated the three-day real estate investment and development exhibition (Cityscape Qatar 2014) at Qatar National Convention Centre.
Speaking at the opening of Cityscape Qatar 2014, HE the Minister of Economy and Commerce said that Qatar, under the leadership of HH the Emir Sheikh Tamim bin Hamad Al-Thani, is gearing up to achieve its national vision 2030 and to bring further progress and prosperity for its residence.
“Qatar makes strides everyday towards progress and prosperity by accomplishing a new achievement, building a big edifice or organizing a high-level international event, and wherever you go now in Qatar you will find construction equipment and machinery tirelessly working in full swing to accomplish giant investment projects in various fields.” HE the Minister of Economy welcomed the participants in the third edition of Cityscape Qatar, the premier real estate investment and development event, which is held on an annual basis to gather prominent real estate stakeholders in Qatar: investors, engineers, designers, architects, real estate developers and managers.
Qatar, he said, has achieved the highest economic growth rates in the world, and is ranked among world’s richest countries in terms of per capita GDP. The Qatar real estate investment and development exhibition is reflecting this economic growth in Qatar, and also embodying the enormous boom in real estate and architecture witnessed in Qatar during the past decade through investment in the giant real estate projects, His Excellency said, adding that the national development strategy in Qatar has allocated more than $225 billion to be spent until 2016 on infrastructure and construction projects as part of its vision for 2030, and its preparations to host the world cup in 2022.
Qatar is still facing huge challenges in real estate sector, His Excellency said, pointing out that Qatar needs to build 12 environmentally-friendly stadiums at a cost of $32 billion for world football cup 2022, constructs roads and streets at a cost of $20 billion dollars and builds 45,000 hotel rooms, in addition to completing Musheireb project at a cost of $5 billion as well as other real estate projects such as Qatar railway project and Doha Metro project and the deep-sea port.
HE the Minister of Economy and Commerce said the real estate sector will see new waves of recovery and prosperity in the coming years, thanks to infrastructure projects that have attracted large numbers of workers and expatriates, which will in turn increase the demand for housing projects, real estate and services such as schools and hospitals as well as development projects in the sectors of retail and commercial projects. He added that demand for residential units is expected to reach 245,000 units by 2017.
HE the Minister welcomed participants in Cityscape Qatar, expressing his delight to be a part of the forum that brings together an elite of experts, specialists and investors in real estate development, and wishing participants success in concluding fruitful deals and holding successful meetings over the course of the event. He also hoped that they find in seminars and summit sessions the information and knowledge to help them take advantage of real estate opportunities in Qatar.
Speaking to the media on the sidelines of the event’s opening, HE Sheikh Ahmed bin Jassim bin Mohamed Al-Thani said the state has a clear vision for the next challenge of allocating the required number of housing units, stressing that he is pleased to work hand in hand with the private sector in order to complete these projects on time with the best quality.
He added that state’s strategy on real estate is clear and depends on investment in infrastructure and real estate projects that support infrastructure, noting that the strategy is currently focused on domestic investment.
On the ministry’s handling of inflation in the face of rising demand for construction materials, HE the Minister of Economy and Commerce said the state has an integrated plan on basic construction materials and is working with the private sector in that regard, adding that some basic materials are already being stored with plans in place to ensure their availability in a timely manner to meet the needs of projects.
Running alongside the exhibition are two dedicated conference programs; the Qatar Real Estate Summit and the Cityscape Qatar Retail Forum, bringing together senior real estate professionals who explore opportunities and discuss solutions to key challenges affecting the industry today. The summit features presentations and panel discussions from some of the industry’s foremost thought leaders.
Held for the first time at Cityscape Qatar, the Retail Forum will take place on June 4 and will explore the entire Qatari retail scene, focusing on opportunities for mall developers, mall operators and retailers alike. The overarching themes will be implementing differentiation strategies, boosting competitiveness and focusing on long-term market sustainability.
Source : Qatar News Agency