At $1.79trillion, the index is up 33.5 per cent on the previous year.

Following a 15.4 per cent increase in the total value of Iranian projects in the first week of 2008, the figure fell back to 0.5 per cent.

This week, it was Oman that recorded the highest growth rate, at 1.1 per cent.

TABLE: Gulf projects ($m)

14 January 2008 7 January 2008 % change on week 14 January 2007 % change on year
Bahrain 28,101 27,901 0.7 33,045 -15.0
Kuwait 274,597 274,967 -0.1 212,975 28.9
Oman 51,265 50,715 1.1 39,506 29.8
Qatar 156,572 156,732 -0.1 132,325 18.3
Saudi Arabia 398,462 390,172 2.1 308,591 29.1
UAE 706,151 714,516 -1.2 482,482 46.4
GCC total 1,615,148 1,615,003 0.0 1,208,924 33.6
Iran 141,330 140,566 0.5 103,213 36.9
Iraq 33,450 33,450 0.0 28,460 17.5
Gulf total 1,789,928 1,789,019 0.1 1,340,597 33.5

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