41 new hotel construction projects with 11,600 rooms in the pipeline
Doha, Qatar – April 29, 2015 – The Emirate of Qatar is investing billions in infrastructure and tourism – not just for the FIFA World Cup in November/December 2022. With the master plan “Vision 2030”, among other, the extension of the airport and a whole new city at the gates of the capital Doha are planned. According to TOPHOTELPROJECTS, the worldwide leading provider of global b2b hotel data, currently 41 new top hotels with 11,600 rooms are in the pipeline.
In total, an investment amount of about 200 billion US dollars is planned in Qatar. Thereof about 5.7 billion dollars will be invested in new hotels and restaurants. Until the FIFA World Cup 2022 eight stadiums still need to arise.
Selected hotel construction projects in Qatar
Steigenberger Hotel Doha – Doha – 200 rooms
Centara Grand West Bay Hotel – Doha – 360 rooms
Zalal Wellness Destination Spa – Doha – 125 rooms
The Amphibious 1000 – Doha – 80 rooms
Le Meridien – Doha- 350 rooms
Park Hyatt Msheireb Downtown – Doha – 187 rooms
Mondrian Hotel – Doha – 270 rooms
Shaza Doha – 180 rooms
Sillks Hotel & Spa – Doha – 100 rooms
Nikki Beach Resort & Spa, The Pearl Qatar – Doha, 47 suites
Planet Hollywood Hotel – Doha – 300 rooms
Wyndham Garden – Doha – 153 rooms
Silver Pearl Hotel – Doha – 1,000 rooms
The quantity of contracts for the coming years is so great that Qatar already proclaimed, that not necessarily required projects need to postpone on a date after the World Cup. Priority is given to sports stadiums and the necessary transport infrastructure, such as streets and the metro.
Most international companies are expecting delays at their project implementation, among others, because based on experience decisions in Qatar could take longer. In addition, people fear a shortage of material, which could intensify the delays, because right before the World Cup’s start significantly more projects will be under construction than currently planned. Bottlenecks are expected in particular with filling material and concrete. The procurement of materials is already a problem, as the infrastructure, especially the port and the streets, is not set up for such large quantities of tourists visiting the country. In addition to the logistics, also the risk of cost pressure is a consequent to worry about.
If the oil prices remain low, it will carry new challenges for the gas exporter Qatar in 2016 and 2017. Prime Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani, confirmed in mid-March, they would retain in the planned infrastructure spending for the “Vision 2030” despite weak energy prices. Qatar has a generous financial cushion to absorb losses in export earnings; therefore also most experts do not expect deterioration in the investment climate. The Investment Authority will have a surplus of 160 billion US dollars, plus currency reserves of more than 40 billion US dollars. But every project would be coming to the test, as the examples of already cancelled or adjourned projects.