(MENAFN) The value of new building deals given in Qatar through Q1 of this year dropped to their lowest levels in more than five years.
Accordingly, contracts awarded during the cited quarter declined to USD 830mn, a drop of 92 percent year-in-year and a 70 percent fall of 2015.
In addition, Qatar is predicted to run a USD 12.76bn deficit this year, due to the maintenance commitments to major construction and infrastructure projects.
Moreover, the industry viewed Qatar as providing the strongest local chance, with 33 percent of respondents upbeat on the country against 14 percent last year.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.