Doha: The construction sector of Qatar has shown resilience as the country successfully hosted the biggest sporting event last year — FIFA World Cup 2022.
The issuance of building permits in the country during the past year have registered strong growth.
The number of building permits issued in November 2022 by municipalities in Qatar stood at 645, while in October it increased by 42 percent to 972 from 884 permits issued in the previous month September 2022.
Building permits during the third quarter of last year registered an impressive growth of around 32 percent, compared to the second quarter. During the third quarter, which includes July, August and September, around 2,200 building permits (2,218 to be exact) were issued, compared to 1,680 building permits issued in the second quarter which includes April, May, and June according to the data released by the Planning and Statistics Authority (PSA).
Building permits data assumes significance for measuring the economic expansion in an economy. The number of building permits issuance in the country is one of the important indicators of economic activity as it signals expansion or contraction in the construction sector.
Building permits and building completion certificates data is considered an indicator for the performance of the construction sector which in turn occupies a significant position in the national economy.
During the third quarter of 2022, September was the busiest month as it recorded highest issuance of building permits. As many as 884 building permits were issued in September, compared to 784 in August and 550 such permits in July.
During the second quarter which includes April, May, and June, the activity in the construction sector during these three months totalled 1,880 building permits.
Qatar’s construction sector also registered healthy growth in the first quarter of last year. The country witnessed issuance of 2,444 building permits during the first quarter of this year, reflecting a rise of around 13 percent, compared to the fourth quarter of 2021. During the fourth quarter of last year, which includes October, November and December, 2,159 building permits were issued.
In the first quarter of last year, March saw the highest number of issuances of building permits. The number of building permits issued in March by municipalities in Qatar reached 988, according to the official data. February witnessed a dip as 697 building permits were issued during this month, the lowest value in the quarter. The number of building permits issued in January by municipalities in Qatar increased by 13 percent to 759, compared to the previous month.
Other major events lined up in the coming months will further drive the economic growth in the country that will also benefit the construction sector, which is expected to expand in the coming years.
