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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