Gulf projects 17 December 2007

08 January 2008

2007 will go down as another exceptional year for project activity in the Gulf.

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 200710 December 2007% change on week17 December 2006% change on year
Bahrain28,34529,320-3.329,815-4.9
Kuwait275,217275,0670.1212,95029.2
Oman49,19049,1900.038,83626.7
Qatar156,357155,1070.8128,62521.6
Saudi Arabia389,772389,4620.1308,07626.5
UAE713,031712,0160.1465,24153.3
GCC total1,611,9121,610,1620.11,183,54336.2
Iran121,778120,0431.4102,88318.4
Iraq32,20532,2050.028,86011.6
Regional total1,765,8951,762,4100.21,315,28634.3

For further information visit meedprojects.com.

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