More than $120bn worth of investments are planned for Qatar, ahead of the 2022 FIFA World Cup
The wave of infrastructure investments planned in Qatar ahead of the 2022 FIFA World Cup will dramatically increase the number of insurable assets in the country, according to Lusail Real Estate Development Company chief executive Eng. Essa Mohammed Ali Kaldari.
Speaking at the Multaqa 2013 conference in Doha this week, Kaldari said that Lusail City, Qatar’s newest city where more than $45bn worth of investments have been announced, opens up immense opportunities for insurers.
Kaldari said that the company’s contractor selection process focuses on technicality rather than cost.
“We partner with the best project and management consultants,” he said. “Our focus is on a model that integrates contractors, risk management and insurance. Previously, insurance was taken by contractors. We are seeing the benefits of taking direct control over insurance.”
The Lusail City mixed-use development project is under construction and will be a “self-contained, holistic, all-inclusive” city that will accommodate 200,000 residents, 170,000 workers, and 80,000 visitors, Kaldari said. It will also feature a rail transport system that connects to Doha.