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

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