Oman witnessed the greatest decline, losing 0.9 per cent on the value of projects planned and under way in the country. Only the UAE increased its volume of current projects. The total value of projects on hold is now over $623bn and the index is down 9 per cent on the previous year.

 

Value of projects planned or under way in the Gulf
  Value of projects planned and under way on 1 March 2010 ($m) Value of projects planned and under way on 22 February 2010 ($m) % change on week Value of projects planned and under way on 1 March 2009 ($m) % change on year Value of on hold projects on 1 March 2010 ($m)
Bahrain 68,502 68,502 0.0% 68,337 0.2% 13,113
Kuwait 268,825 268,905 0.0% 308,066 -12.7% 45,093
Oman 106,194 107,154 -0.9% 108,843 -2.4% 6,770
Qatar 220,676 220,976 -0.1% 223,494 -1.3% 9,837
Saudi Arabia 645,455 646,555 -0.2% 632,671 2.0% 54,809
UAE 965,502 964,302 0.1% 1,306,712 -26.1% 467,631
GCC total 2,275,154 2,276,394 -0.1% 2,648,123 -14.1% 597,253
Iran 316,857 315,157 0.5% 294,125 7.7% 4,800
Iraq 226,576 226,486 0.0% 155,106 46.1% 21,000
Gulf total 2,818,587 2,818,037 0.0% 3,097,354 -9.0% 623,053
Source: MEED Projects