Qatar is set to spend up to US$ 150 billion on infrastructure projects over the next 5-6 years as it starts preparing for the 2022 World Cup, reported Arabian Business. Yousef Hussein Kamal, Minister of Economy and Finance, also said spending on the oil and gas sector would reach US$ 40 billion in the same period. The Qatari government has reportedly allocated a whopping 40 percent of its budget between now and 2016 to infrastructure projects, including US$ 11 billion on a new international airport, US$ 5.5 billion on a deepwater seaport and US$ 1 billion for a transport corridor in the capital, Doha. It will spend US$ 20 billion on roads while stadium construction for the World Cup should cost just under US$ 4 billion, with the first venue to be built by 2015. According to German legal and financial adviser Dr Nicola Ritter, US$ 48 billion will be spent to build air-conditioned stadia, US$ 77 billion will be spent on facilities for soccer fans and players from all over the world and US$ 45 billion will be allocated for developing Lusail City. Qatar has also allocated US$ 50 billion to upgrade its transport infrastructure, including new rail and metro systems.

As reported Arabianbusiness, according to the latest data published by STR Global, a total of 119 hotels are predicted to be built in the Middle East/ Africa region this year. Year-to-date, 50 hotels have opened in the region supplying a further 9,663 rooms with another 69 hotels (15,420 rooms) in the pipeline for completion before the end of 2011, STR Global said. During 2012, 131 hotels are planned to open with 36,205 rooms, it added. Among the hotel sectors, the upper upscale will be boosted by 3,733 rooms and 15 projects this year and the luxury segment by 3,052 rooms and 13 projects. STR Global said in 2012, the most rooms are planned to open in the luxury segment (11,123 rooms and 34 projects) and the upper upscale category (10,198 rooms and 31 projects).

As news.am reported, Head of Government-Affiliated State Property Management Department Arman Sahakyan stated, that "Dvin" and "Sevan" Hotels Construction to be completed. During press-conference Arman Sahakyan said, "Dvin" hotel will be reconstructed by 2014, or even earlier. And the basis for this optimism is the new commitments which the Hotel's proprietor has assumed. According to these obligations, if the proprietor does not carry out the investments specified in the contract, it will have to pay ten percent from the sum of unfulfilled investments, as a penalty. "Dvin" hotel was sold in 2003 to Caucasian Communication Group for US$ 3 million. The buyer had pledged to build a 5-star hotel in five years and to invest US$ 30 million; but no essential investment is made so far. And finally, if Dvin Hotel is not reconstructed, the Government of Armenia reserves the right to take its possession by court order, after 2014. During press-conference Arman Sahakyan also hoped, that reconstruction of "Sevan" hotel will reach its logical end. The hotel was sold in 1996 to "Carousel Establishment Company", which belongs to British-Armenian businessman Vache Manukian. Even though the buyer was obliged to rebuild the hotel in five years, it remains in dilapidated condition. During his visit to Yerevan in late September, Vache Manukian discussed the hotel's fate with Yerevan's mayor, Karen Karapetyan. Apparently, Manukian does not want to build a hotel, but rather a cultural or a business center. However, he has not reached a final agreement with municipal authorities so far.

From 28 to 30 October in the capital of Adjara Batumi, within the scope of "Batumi Building & Design International Fair" will be held the 10th Annual, anniversary construction exhibition "Our House". Expo center "Expomedia" reported, that in exhibition will participate companies from Georgia, Turkey and Iran. This year Armenia will take part in the exhibition for the first time. This is the good opportunity to present products of Armenian companies abroad. The purpose of the exhibition is to associate Armenian and foreign companies working in the field of construction and renovation. Exhibition's thematic sections are; design, construction, renovation, furniture, doors and windows, products for external and internal repairs, technology, gardening plots, exterior and interior design.

As reported by english.chosen.com, this week construction began on the Yongsan Landmark Tower, which is expected to be the most expensive building in the world once it is completed, standing 100 stories tall and rising half a kilometer into the sky. The tower is scheduled to be completed by the end of 2016. Scheduled to be built in Seoul, inside the international business district in Yongsan, the tower will not quite measure up to the Burj Khalifa in Dubai (162 stories, 828 meters) or the Lotte Super Tower being built in Jamsil (123 stories, 555 meter), but it will be the most expensive building per square unit. At present, each 1 square meter costs around US$ 3,150. The total construction cost is US$ 1.2 billion and the entire price tag for the building, including the land, stands at more than US$ 3.4 billion. It is more expensive than the Burj Khalifa, which cost around US$ 3,000 million per 1 square meter and costs 40 percent more than the Samsung Group headquarters in Seocho-dong, which cost US$ 2,400 per 1 square meter. Design alterations and the use of more high-tech materials could bump the price tag up further. The skyscraper will be packed with cutting-edge equipment and facilities. The structure was designed by renowned architect Renzo Piano, who created the Pompidou Center in Paris and London Bridge Tower. Samsung Corporation, which also served as the main contractor on the Burj Khalifa and Taipei 101 (101 stories, 508 meters), the latter in Taiwan, will build the new architectural landmark in Yongsan. It will house the offices of global businesses and will offer a wide range of high-tech functions. First of all, the skyscraper will be equipped with the fastest elevators in the world that travel at 800 meters per minute, more than six times faster than the lifts installed in high-rise condominiums in Korea (120 m/min). In order to withstand the staggering weight of 100 stories of steel and concrete, ultra-high intensity concrete will be used to build the skyscraper, capable of supporting up to 800 kg per square cm.