In percentage terms, the highest growth was recorded by Iraq which experienced a 32 per cent
rise in its project portfolio to $66bn.

The unprecedented jump was almost entirely due to the launch of a $15bn mixed-use development in Irbil by Dubai-based developer Damac.

Table: Gulf Projects ($m)

10 June 2008 2 June 2008 % change on week 8 June 2007 % change on year
Bahrain 36,927 34,777 6.2 33,815 9.2
Kuwait 262,801 258,459 1.7 245,965 6.8
Oman 92,114 89,518 2.9 46,686 97.3
Qatar 194,464 193,966 0.3 136,797 42.2
Saudi Arabia 472,859 469,148 0.8 341,636 38.4
UAE 876,309 863,915 1.4 606,127 44.6
GCC total 1,935,474 1,909,783 1.3 1,411,026 37.2
Iran 213,892 215,145 -0.6 111,230 92.3
Iraq 66,276 49,976 32.6 28,382 133.5
Gulf total 2,215,642 2,174,904 1.9 1,550,638 42.9

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