Doha - Economy

Economy

See also: Economy of Qatar and List of tallest buildings in Doha, Qatar

Much of Qatar's oil and natural gas wealth is visible in Doha, which is the economic centre of Qatar. Doha is home to the headquarters of the country's largest oil and gas companies, including Qatar Petroleum, Qatargas and RasGas. Doha's economy is built on the revenue the country has made from its oil and natural gas industries, and the Qatari government is rapidly trying to diversify the Qatari economy in order to move away from this dependence on oil. As a result, Doha is currently experiencing a very large boom, with the city developing very rapidly – this is mostly the result of Sheikh Hamad bin Khalifa's modernization program.

Like the nearby city of Dubai in the United Arab Emirates, Doha's economy is moving away from its dependency on the oil and natural gas industries, although unlike Dubai, Doha's main focus is not tourism. Doha is seeing huge amounts of growth, with the population of the city increasing by more than 30,000 between 2004 and 2006; this has caused a boom in the real estate sector, with real estate prices skyrocketing. According to the BBC, as of late January 2007, Doha is now a more expensive city than Dubai in terms of real estate prices. This rate of growth has led to projects such as the Lusail City project, which is being constructed north of Doha and will eventually house 200,000 people. Construction is also booming in Doha, a result of increasing corporate and commercial activity in Doha. This is most visible with the changing skyline of the city, as Doha has over 50 towers currently being constructed, the largest of which is the Dubai Towers. At the same time, 39 new hotels are joining Qatar's booming tourism market, adding about 9,000 new rooms by 2009.

Qatar Airways is headquartered in the Qatar Airways Tower in Doha.

Doha was included in Fortune's 15 best new cities for business for the year 2011.

Some projects in Doha include:

  • Aspire Tower
  • Education City
  • Museum of Islamic Art
  • The Pearl
  • Lusail
  • Al Waab City
  • Dubai Towers - Doha
  • Commercialbank Plaza
  • Katara

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