Strong growth in the Saudi and Iraqi markets resulted in the MEED Projects index rising by 2 per cent to $2.49 trillion in the week ending 1 September.
The biggest rise was in Iraq, which experienced a 6 per cent hike in the value of projects planned or under way, while in Saudi Arabia the figure was 5.8
per cent.
Only one Gulf market, Bahrain, declined in value over the course of the week, dipping by 0.8 per cent. Year on year, the Gulf projects market has risen by 52 per cent.
Table: Gulf Projects ($m)
| 01 Sep 2008 | 26 Aug 2008 | % change on week | 01 Sep 2007 | % change on year | |
| Bahrain | 46,343 | 46,713 | -0.8 | 31,435 | 47.4 |
| Kuwait | 296,319 | 295,249 | 0.4 | 250,797 | 18.2 |
| Oman | 91,931 | 91,681 | 0.3 | 48,016 | 91.5 |
| Qatar | 204,399 | 211,079 | -3.2 | 137,911 | 48.2 |
| Saudi Arabia | 563,750 | 532,732 | 5.8 | 371,908 | 51.6 |
| UAE | 963,786 | 951,845 | 1.3 | 665,694 | 44.8 |
| GCC total | 2,166,528 | 2,129,299 | 1.7 | 1,505,761 | 43.9 |
| Iran | 243,913 | 238,222 | 2.4 | 107,005 | 127.9 |
| Iraq | 79,526 | 75,026 | 6.0 | 25,747 | 208.9 |
| Gulf total | 2,489,967 | 2,442,547 | 1.9 | 1,638,513 | 52.0 |
For further information visit www.meedprojects.com.
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