The milestone, achieved in the week to 8 September, came just six months after the index hit the $2 trillion mark.

Only Bahrain experienced a reduction in its project portfolio during the course of the week, with Iran registering the highest growth, at 3.1 per cent.

Year on year, the overall index is up by 53 per cent.

Table: Gulf Projects ($m)

08 Sep 2008 01 Sep 2008 % change on week 08 Sep 2007 % change on year
Bahrain 43,599 46,343 -5.9 31,435 38.7
Kuwait 296,319 296,319 0.0 252,662 17.3
Oman 92,401 91,931 0.5 46,016 100.8
Qatar 205,479 204,399 0.5 142,466 44.2
Saudi Arabia 564,872 563,750 0.2 363,278 55.5
UAE 967,947 963,786 0.4 662,984 46.0
GCC total 2,170,617 2,166,528 0.2 1,498,841 44.8
Iran 251,543 243,913 3.1 106,350 136.5
Iraq 79,526 79,526 0.0 25,747 208.9
Gulf total 2,501,686 2,489,967 0.5 1,630,938 53.4

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