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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