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Qatar’s Industrial Production Index Increases by 4.9%

An oil refinery in Qatar. (Getty Images)
An oil refinery in Qatar. (Getty Images)
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Qatar’s Industrial Production Index Increases by 4.9%

An oil refinery in Qatar. (Getty Images)
An oil refinery in Qatar. (Getty Images)

Qatar’s Industrial Production Index (IPI) increased by 4.9 percent this September compared to the corresponding month in 2021, reaching 102.4 points.

However, it decreased by 3.2 percent compared to the previous month.

Qatar News Agency reported that the index issued by the Planning and Statistics Authority shows details about the economic sectors’ growth.

The relative weight of the main economic sectors under this indicator are as follows: mining 82.46 percent, manufacturing 15.85 percent, electricity production 1.16 percent, and water production 0.53 percent.

When compared to September 2021, the IPI of mining increased by 5.5 percent.

The index of manufacturing showed a decrease of 5.3 percent in September compared to August 2022.

This resulted from the production decrease in the following groups: the manufacture of basic metals by 9.5 percent, the manufacture of chemicals and chemical products by 6.4 percent, the manufacture of rubber and plastics products by 5.2 percent, and the manufacture of refined petroleum products by 2.8 percent.

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Red Sea Global Expects Growing Investment Opportunities in 2025

Shura Island design (Photo: Red Sea Global website)
Shura Island design (Photo: Red Sea Global website)
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Red Sea Global Expects Growing Investment Opportunities in 2025

Shura Island design (Photo: Red Sea Global website)
Shura Island design (Photo: Red Sea Global website)

As part of Saudi Arabia’s efforts to become a top tourism destination, Red Sea Global, wholly owned by the Public Investment Fund, is advancing significantly on its Red Sea and Amaala projects. The company anticipates increasing investment opportunities, particularly in the hospitality and real estate sectors, throughout the remainder of this year and into 2025.
In late October, Red Sea Global announced the successful financial closing of a $1.5 billion multi-utility infrastructure project at Amaala. This project is being led by a consortium that includes EDF Group, Masdar (Abu Dhabi Future Energy Company), East West Power of South Korea (EWP) and Suez.
Speaking to Asharq Al-Awsat on the sidelines of the Cityscape Global 2024 exhibition in Riyadh, Ben Edwards, Executive Director of Cost, Commercial, and Procurement at Red Sea Global, said that the company opened its first resorts, including St. Regis and Ritz-Carlton hotels, by the end of last year and early 2024.
Edwards explained that 2025 will be a landmark year for the Red Sea project, with the completion of hotels on Shura Island, which will feature 11 luxury hotels from leading global brands around an 18-hole golf course. Development at the Amaala site is also underway, with eight hotels slated to open in the first phase at Triple Bay, as well as a Yacht Club and a Marine Life Institute.
“We welcome investors in the hotel and real estate sectors and invite them to explore opportunities in the Red Sea and Amaala projects. We offer a growing portfolio of private real estate investment opportunities, including properties near the Shura golf course and in Amaala,” Edwards said. He added that the company is actively seeking service providers, contractors, and suppliers to participate in bids and projects.
Sustainability is at the heart of all Red Sea Global projects, Edwards emphasized. Both destinations rely entirely on off-grid renewable energy sources, with over 760,000 solar panels installed and supported by the world’s largest solar energy storage facility. The company is also leading significant environmental initiatives, such as planting mangroves; so far, over 1.5 million mangrove trees have been planted, with a target of 50 million by 2030.
To date, Red Sea Global has awarded over 600 contracts valued at approximately SAR 23 billion ($6.13 billion) to local and international partners.
The Red Sea destination spans more than 28,000 square kilometers and includes the world’s fourth-largest thriving coral reef system. By 2030, the project aims to attract up to one million visitors annually.