The MEED Projects index grew by $8.2bn in the third week of February, bringing the total value of projects planned or under way in the region to $1.86trillion.
The increase was driven by the Qatari and Iraqi markets, which recorded a growth of 2.8 per cent and 11.8 per cent respectively.
The $4bn rise in the value of Iraqi projects was triggered by signs of renewed activity around South Oil Company’s West Qurna field development scheme.
Table: Gulf projects ($m)
| 18 February 2008 | 11 February 2008 | % change on week | 18 February 2007 | % change on year | |
| Bahrain | 28,029 | 28,155 | -0.4 | 32,670 | -14.2 |
| Kuwait | 262,772 | 265,772 | -1.1 | 230,050 | 14.2 |
| Oman | 52,885 | 52,433 | 0.9 | 42,381 | 24.8 |
| Qatar | 163,856 | 159,356 | 2.8 | 132,655 | 23.5 |
| Saudi Arabia | 401,039 | 400,242 | 0.2 | 314,386 | 27.6 |
| UAE | 727,233 | 726,183 | 0.1 | 492,477 | 47.7 |
| GCC total | 1,635,814 | 1,632,141 | 0.2 | 1,244,619 | 31.4 |
| Iran | 191,265 | 190,765 | 0.3 | 102,848 | 86.0 |
| Iraq | 37,765 | 33,765 | 11.8 | 28,460 | 32.7 |
| Regional total | 1,864,844 | 1,856,671 | 0.4 | 1,375,927 | 35.5 |
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