The 3.1 per cent rise in the total value of projects planned or under way in the Gulf was almost entirely due to the $54bn Mohammed bin Rashid gardens project being unveiled in Dubai. The new city scheme also cements the UAE’s position as the Gulf’s leading projects market.

Table: Gulf Projects ($ m)

14 April 2008 7 April 2008 % change on week 13 April 2007 % change on year
Bahrain 33,507 33,507 0.0 32,035 4.6
Kuwait 269,238 268,987 0.1 236,170 14.0
Oman 59,594 58,014 2.7 41,341 44.2
Qatar 190,205 190,205 0.0 134,910 41.0
Saudi Arabia 460,568 460,488 0.0 322,801 42.7
UAE 848,218 786,922 7.8 530,339 59.9
GCC total 1,861,330 1,798,123 3.5 1,297,596 43.4
Iran 201,790 201,540 0.1 109,155 84.9
Iraq 51,800 51,800 0.0 28,462 82.0
Gulf total 2,114,920 2,051,463 3.1 1,435,213 47.4

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