Oman and Kuwait were the biggest fallers, with the size of their project portfolios contracting by 2.5 and 1.5 per cent respectively.

There was no change in the value of Bahraini, Iraqi and Iranian projects this week.

The fastest growth was experienced by Kuwait, which recorded a 0.9 per cent increase in project value.

12 Jan 2009 ($m) 05 Jan 2009 ($m) % change on week 12 Jan 2008 ($m) % change on year
Bahrain 64,317 64,317 0.0 28,101 128.9
Kuwait 306,382 303,612 0.9 274,597 11.6
Oman 104,387 107,056 -2.5 51,265 103.6
Qatar 219,243 222,599 -1.5 156,572 40.0
Saudi Arabia 620,420 618,113 0.4 398,462 55.7
UAE 1231,376 1,232,336 -0.1 706,151 74.4
GCC total 2,546,125 2,548,033 -0.1 1,615,148 57.6
Iran 286,355 286,355 0.0 141,330 102.6
Iraq 140,606 140,606 0.0 33,450 320.3
Gulf total 2,973,086 2,974,994 -0.1 1,789,928 66.1

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