The drop was largely due to a 7.7 per cent fall in the value of projects planned or under way in Kuwait, where several large-scale schemes have been put on hold recently.

The biggest rise of the week was recorded in Oman, which registered a 3.7 per cent increase in its project portfolio.

Table: Gulf Projects ($m)

6 May 2008 28 April 2008 % change on week 4 May2007 % change on year
Bahrain 32,607 33,507 -2.7 32,145 1.4
Kuwait 248,914 269,574 -7.7 236,975 5.0
Oman 87,244 84,144 3.7 41,341 111.0
Qatar 196,318 194,578 0.9 134,073 46.4
Saudi Arabia 460,128 468,138 -1.7 326,611 40.9
UAE 864,736 853,995 1.3 534,573 61.8
GCC total 1,889,947 1,903,936 -0.7 1,305,718 44.7
Iran 207,708 205,285 1.2 111,870 85.7
Iraq 52,750 51,980 1.5 28,582 84.6
Gulf total 2,150,405 2,161,201 -0.5 1,446,170 48.7

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