Qatar’s construction sector witnesses prominent growth
Qatar’s building industry has shown resilient as a result of the nation’s successful hosting of the biggest sporting event, the FIFA World Cup Qatar 2022TM.
The country has seen a significant increase in the issuing of building permits during the last 12 months. Municipalities in Qatar issued 645 building permits in November 2022; in contrast, in October, they issued 972 permits, a 42 percent rise from the 884 issued in September 2022. Comparing the third quarter of last year to the second quarter, the number of building permits increased by an astonishing 32 percent. According to information provided by the Planning and Statistics Authority (PSA), approximately 2,200 building permits were issued during the third quarter, which includes July, August, and September, as opposed to 1,680 building permits issued during the second quarter, which includes April, May, and June. Data on building permits is significant for gauging an economy’s economic growth. As it indicates growth or decline in the construction sector, the number of building permits issued in the nation is one of the key indicators of economic activity.