The MEED Projects index was virtually unchanged at $2.4 trillion in the seven days to 18 August in a sign that the summer lull has finally arrived in the Gulf.
In an exceptionally quiet week, the biggest changes took place in Oman and Qatar, which both saw modest declines in the total value of projects planned or under way.
Elsewhere, Bahrain, Kuwait and the UAE saw marginal increases in their project portfolios, while Iran, Iraq and Saudi Arabia experienced no change at all.
Table: Gulf Projects ($m)
| 18 August 2008 | 11 August 2008 | % change on week | 18 August 2007 | % change on year | |
| Bahrain | 40,048 | 39,998 | 0.1 | 31,055 | 29.0 |
| Kuwait | 295,253 | 295,095 | 0.1 | 252,527 | 16.9 |
| Oman | 92,315 | 92,905 | -0.6 | 47,496 | 94.4 |
| Qatar | 210,614 | 211,619 | -0.5 | 144,851 | 45.4 |
| Saudi Arabia | 532,386 | 532,148 | 0.0 | 365,289 | 45.7 |
| UAE | 934,632 | 934,096 | 0.1 | 666,457 | 40.2 |
| GCC total | 2,105,248 | 2,105,861 | 0.0 | 1,507,675 | 39.6 |
| Iran | 237,384 | 237,347 | 0.0 | 110,330 | 115.2 |
| Iraq | 75,026 | 75,026 | 0.0 | 25,802 | 190.8 |
| Gulf total | 2,417,658 | 2,418,234 | 0.0 | 1,643,807 | 47.1 |
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