In the 12 months to the end of December, the total value of projects planned or under way surged by a third to $1.76 trillion, according to MEED Projects, as a result of robust oil prices, high government spending and unprecedented private sector investment.

Although the value of new projects has slowed in recent months, the backlog of work should ensure high activity for the foreseeable future.

TABLE: Gulf projects ($ trillion)

17 December 2007 10 December 2007 % change on week 17 December 2006 % change on year
Bahrain 28,345 29,320 -3.3 29,815 -4.9
Kuwait 275,217 275,067 0.1 212,950 29.2
Oman 49,190 49,190 0.0 38,836 26.7
Qatar 156,357 155,107 0.8 128,625 21.6
Saudi Arabia 389,772 389,462 0.1 308,076 26.5
UAE 713,031 712,016 0.1 465,241 53.3
GCC total 1,611,912 1,610,162 0.1 1,183,543 36.2
Iran 121,778 120,043 1.4 102,883 18.4
Iraq 32,205 32,205 0.0 28,860 11.6
Regional total 1,765,895 1,762,410 0.2 1,315,286 34.3

For further information visit meedprojects.com.

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