Western builders said to draw up plans to exit Qatar as GCC row drags on

Western construction firms, working on stadiums for FIFA World Cup 2022, are drawing up plans to leave Qatar if the GCC diplomatic row persists, UK’s Daily Telegraph newspaper reported, citing unnamed industry sources.

Saudi Arabia, UAE, Bahrain and Egypt recently cut diplomatic ties with Qatar, accusing the GCC country of supporting extremist groups.

Qatar was planning to build eight football stadiums ahead of the tournament, in addition to a metro line, and seven hotels with a capacity of 60,000 rooms, at a total investment of $160 billion.

The newspaper quoted a source as saying: “We have a team working on contingency planning. Should further sanctions come in companies will have to reassess their investment and their presence in Qatar. If the risk profile changes we would take evasive action to protect our investments and our people.”