The global Halal market is growing rapidly and further investment in Halal tourism, trade, industry and food is needed, a leading Arab investor and contractor has said.

Moataz Al-Khayyat, CEO of UrbaCon, said: "Halal market is growing quickly and the demand for Halal products is hugely increasing so investors need to fulfill the needs of the market by expanding their investments."

In a statement commenting on the Gulfood 2017, the world's largest annual food and hospitality exhibition being held in Dubai, he said: "Economic reports show that the spend on Halal food and beverages is expected to reach $1.9 trillion by 2021, while the spend on Halal travel is expected to reach $243 billion by 2021. This is why Halal market needs more investments."

UrbaCon Trading & Contracting has built many family-friendly hotels in the region. UrbaCon is also involved in several major projects over the last few years and has become one of the most respected building contractors in Qatar.

In addition to the Mall of Qatar, included among its projects are the Banana Island Resort, the Sheraton Doha Hotel and Convention Center, and the Lekhwiya Stadium at Al Duhail.

UrbaCon is one of several companies owned by Mr. Al-Khayat. These companies include general contracting, commercial and residential developments, building materials, various trading companies, hospitals and restaurants with operations in the Middle East.