Delays and increasing costs can lead to shelving of development projects in Qatar, Khalil Sholy

In an exclusive interview in The Report: Qatar 2008, published by Oxford Business Group (OBG), the highly acclaimed global publishing, research and consultancy firm, Sholy said that while Qatar is expanding infrastructure in many sectors, improvements cannot be made quickly enough: "with delays and increasing project costs, development prices become higher and many projects the conceptual stages may be shelved."

Many of the increased costs are passed to the end consumer, which is making it increasingly hard to find affordable housing, particularly for expatriates. Given the pace of the economy, the problem will continue to escalate, but Sholy said that the government is working on long-term strategies for capacity improvements that could resolve many of the problems in the future.

The real estate and construction sectors are among the industries that have benefited from the government's attempts to diversify Qatar's economy. In turn, this growth has created opportunities in finance, insurance and service industries, Sholy told OBG.

"As success is attained in one area, new industries and opportunities are created," he said. To ensure sustainable growth, he told OBG, "Leaders should be vigilant to identity new growth areas and move to ensure that industrial areas are filled."

The Report: Qatar 2008, the latest of OBG's annual business guides to the emirate, is rated as the premier guide for foreign direct investment into Qatar's vibrant economy.

The 270-page publication with an international distribution of 71,000 is published for the fifth consecutive year in partnership with Qatar National Bank for capital markets, Clyde and Co for legal affairs, and Deloitte for accountancy framework.

Available in print form and online, it is part of the range of OBG's publications, which are renowned as leading sources of information on developing and emerging economies around the world.