The largest drop was experienced by Kuwait, where the value of current projects fell by three per cent.

The Bahraini and Iranian markets were the most active and recorded growth rates of 1.2 per cent and 1.4 per cent respectively.

The region’s project market has grown by 36.9 per cent on the previous year.

TABLE: Gulf projects ($m)

11 February 2008 04 February 2008 % change on week 11 February 2007 % change on year
Bahrain 28,155 27,821 1.2 33,055 -14.8
Kuwait 265,772 273,950 -3.0 213,550 24.5
Oman 52,433 52,112 0.6 42,256 24.1
Qatar 159,356 159,207 0.1 131,475 21.2
Saudi Arabia 400,242 400,132 0.0 314,701 27.2
UAE 726,183 724,707 0.2 489,527 48.3
GCC total 1,632,141 1,637,929 -0.4 1,224,564 33.3
Iran 190,765 188,175 1.4 103,548 84.2
Iraq 33,765 33,615 0.4 28,460 18.6
Gulf total 1,856,671 1,859,719 -0.2 1,356,572 36.9

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