Economic

Construction sector rebounds on increased economic activity

Qatar’s constructions sector has registered healthy growth in the first quarter of this year as the economy gears up to host the biggest sporting event this 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 according to the Planning and Statistics Authority. 
 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. Industry experts keep a close tab on the trend in building permits as any increase in the issuance points to recovery in the construction sector. 
In the first quarter, March saw the highest number of issuance of building permits during the first quarter. The number of building permits issued in March by municipalities in Qatar reached 988, data released by the Planning and Statistics Authority showed. 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.
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. 
Despite facing several headwinds due to coronavirus pandemic outbreak, Qatar’s construction sector has staged a strong bounce back in 2021. As many as 9,500 building permits were issued during 
last year.

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