Analysts say that both real estate and cement sectors are booming in Qatar as expectations say that 25,000tpd of cement are required to cover the demand of project worth $35 billion expected over the next five years, The Peninsula reported.
The Chief Executive Officer of Qatar Real Estate Investment Company, Mohammed Ismail Mandly, said that the real estate sector in Qatar is expanding very quickly, and there are no difficulties in securing the required amount of cement in infrastructure projects.
He added that the country’s real estate sector was not affected by the global financial turmoil. Qatar is considered to be one of the most attractive countries in the region for real estate investments.
The gulf region produces between 70Mt to 80Mt of cement per year, which are entirely going to the local market, reports say.
The General Manager of the Gulf Cement Company , Omar Yaji, said that the cement sector will have a brighter future with the rapid real estate growth that Qatar is witnessing.
He added that despite the fact that the recession hit most of the regions in the world in the first two quarters of this year, the cement industry is unharmed by problems that affected or might affect other sectors.