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Construction Magnate Mr. Mohamed Moataz Al Khayyat Estimates $200bn Spend
Leading contractor KCT Qatar, headed by CEO Mr. Mohamed Moataz Al Khayyat, also known by the name Moutaz Al Khayat, expects total construction infrastructure investment to breach the $200bn mark within the next 10 years.
Mr Mohamed Moataz Al Khayyat, CEO of Khayyat Contracting & Trading noted:
"Preparations for the World Cup, though a government driven activity, will also see external investments being made outside state funding to cash in on the windfall expected from staging the world's biggest sporting event. The retail industry will open up, as will the F&B sector. Tourism and hospitality will see further activity, beyond what the government is planning," said Al Khayyat.
The infrastructure spending is expected to boost Qatar's non-oil economy, which EFG-Hermes predicts will expand by as much as 16 per cent year from next year until 2018.
The latest Arcadis Global Infrastructure Investment Spending Index already ranks Qatar as the second most attractive infrastructure investment destination in the world, behind only Singapore. "In the Gulf region, it leads all other nations and has maintained this ranking for the past two years - an affirmation of investor confidence in the country's potential to attract investments over and above what the state will spend," added Moutaz Al Khayat.
While the future prospects for Qatar's infrastructure projects market look promising, supply and construction costs issues will eventually surface and must have to be addressed. Mr. Moataz Al Khayyat is currently developing many projects, and is feeling the burden of rising construction costs. By Al Khayyat's estimates, prices of construction materials have increased by as much as 5-10% in the last twelve months.
Confident Gulf State Qatar looks to the future
Qatar has set its sights beyond the staging of the World Cup, ensuring the assets it has built over the next decade will have productive use beyond the event. "The infrastructure that will be put in place over the next few years will accommodate the expected influx of tourists and new expatriate workers as Qatar's economy continues to grow. The stadiums are already being earmarked for use by local clubs and tournaments as well as regional sporting events," explained Moataz Al Khayyat. Doha certainly has the liquidity and financial might to make its emboldened ambitions happen. But the private sector will also have a role to play in contributing to the future growth of Qatar.
Moataz Al Khayyat's portfolio of construction projects:
Mr Moataz Al Khayyat’s company has some 20 construction projects underway in the Doha region in Qatar, with a total workforce of about 6,000 workers. KCT recently launched the Al Khayyat Academy for Training, a facility to train construction tradesmen and unskilled labourers, as well as foremen and supervisors in 10 trades.
Moutaz Al Khayyat's portfolio of construction projects:
Mr Moataz Al Khayyat’s company has some 20 construction projects underway in the Doha region in Qatar, with a total workforce of about 10,000 workers. KCT recently launched the Al Khayyat Academy for Training, a facility to train construction tradesmen and unskilled laborers, as well as foremen and supervisors in 10 trades.
CEO Mr. Mohamed Moataz Al Khayyat | Moataz Al-Khayyat | Moutaz Al Khayat | Mohamed Moataz Al Khayat | Business Portfolio:
Al Khayyat Contracting and Trading: www.khayyat-
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