Join our community of smart investors

Qatar, a land of opportunity

UK firms are picking up record workloads as the emirate rebuilds its infrastructure
December 7, 2011

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.

IC TIP: Buy

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.

And Hyder Consulting has also been successful in winning the largest design contract ever awarded by Ashghal. Worth around £80m over five years, it is also the largest single contract ever won by the consultancy group, and will involve all the consultancy and engineering services for local roads and drainage in the northern area of Doha, covering an area of around 75 sq km.