Qatar will invest around QR1.27 trillion ($350 billion) in sustainable development over the next 15 years, said the organiser of the upcoming Project Qatar 2015, an international construction and building materials exhibition to be held in the capital Doha.

The 12th edition of the event is scheduled to run from May 4 to 7 at the Qatar National Convention Centre.

“Qatar in the run-up to the 2022 Fifa World Cup and in line with the Qatar National Vision (QNV) 2030 document will be investing nearly $350 billion,” George Ayache, general manger of IFP Qatar was quoted as saying in The Peninsula report.

“The figure includes the value of all the projects since the launch of QNV 2030 programme, including the industrial projects and the $70-billion investment dedicated to the country’s hospitality and tourism sector development,” he added.

He was speaking at a press conference held yesterday (April 20) in Doha to announce details of Project Qatar 2015, which will be held under the patronage of Sheikh Abdullah bin Nasser bin Khalifa Al Thani, Qatar’s Prime Minister and Minister of Interior, represented by Sheikh Ahmed bin Jassim Al Thani, Minister of Economy and Commerce, who will inaugurate the show.

This year, Project Qatar will feature participation from more than 2,000 companies and brands representing 40 countries, including 1,130 exhibitors and 21 national pavilions spread over seven halls and an outside area, covering 41,500 sq m of exhibition space.

The show is also expected to attract over 50,000 professional visitors.

Cyprus will make its debut as a pavilion at the exhibition this year, being represented by 10 of its leading companies, according to a press release issued by IFP.

At the press conference, Gerd Bommer, commercial counsellor at the Embassy of Austria in Doha, noted: “The Austrian Pavilion at Project Qatar 2015 will once more be the perfect platform for Austrian companies in the areas of interior design, materials for construction industry and optical systems.”

Lee Kwang-il, commercial attaché at the Korean embassy to Qatar, said: “Over 40 years of history of the ties between Korea and Qatar, we are currently entering into a new era of cooperation. With 11 companies under the umbrella of the Korean pavilion, we hope to strengthen the relationship, especially in the eco-friendly sector.”

Returning and first-time participants will also have an opportunity to gain specialised knowledge through a couple of concurrently held events: Qatar StoneTech 2015, the fourth international stone and stone technology show, and Heavy Max 2015, the 12th international exhibition for heavy machinery.

Considering that Qatar’s economy is expected to record a 7.7 per cent growth in real GDP (gross domestic product) this year, with the non-hydrocarbon sector accounting for 50 per cent of GDP, the construction sector will remain vital, contributing to the development goals of Qatar National Vision 2030, the IFP press release said.