The revelation that Qatar is to host the 2022 FIFA football World Cup has proved to be a blessing for real estate and construction firms in the Gulf region. A number of developers are already working in the Gulf state and others in the region are hoping to get some of the action from the tournament.
Qatar beat off strong competition from the US and Australia to earn the right to host the competition, which research has found will do more to boost a nation that any other sporting event.
Added to this, there already was a significant government spend planned for Qatar over the next ten to 15 years and this will now increase, according to Tony Saadie, executive general manager for Al Habtoor Leighton Group Qatar.
"The World Cup will now ensure that the expenditure will be accelerated. There will also be increased expenditure in the building sectors for projects such as hotels which prior to the World Cup win were not previously forecast as being greatly required," he explained.