The MEED Projects index fell for the second time in two consecutive weeks, recording a 0.3 per cent decline to $2.14 trillion in the week ending 12 May.
The fall was caused mainly by a 1.0 per cent decline in the value of projects planned or under way in the UAE and a 0.8 per cent drop in Iraq's projects portfolio.
The Iranian projects market recorded the largest growth, with a 1.1 per cent increase in its portfolio.
Table: Gulf Projects ($m)
| 12 May 2008 | 6 May 2008 | % change on week | 12 May2007 | % change on year | |
| Bahrain | 32,607 | 32,607 | 0.0 | 32,145 | 1.4 |
| Kuwait | 248,764 | 248,914 | -0.1 | 240,475 | 3.4 |
| Oman | 87,374 | 87,244 | 0.1 | 41,341 | 111.3 |
| Qatar | 195,738 | 196,318 | -0.3 | 135,348 | 44.6 |
| Saudi Arabia | 460,592 | 460,128 | 0.1 | 327,611 | 40.6 |
| UAE | 856,419 | 864,736 | -1.0 | 535,891 | 59.8 |
| GCC total | 1,881,494 | 1,889,947 | -0.4 | 1,312,811 | 43.3 |
| Iran | 209,930 | 207,708 | 1.1 | 111,870 | 87.7 |
| Iraq | 52,325 | 52,750 | -0.8 | 28,582 | 83.1 |
| Gulf total | 2,143,749 | 2,150,405 | -0.3 | 1,453,263 | 47.5 |
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