The MEED Projects index broke through the $1.8 trillion barrier for the first time in the week ending 21 January, as a result of a 0.8 per cent rise in the value of projects planned or under way in the Gulf.
Only Bahrain and Oman experienced a fall, with the highest growth being recorded in the UAE and Qatar.
The total value of projects has risen by 35 per cent over the past 12 months.
The UAE is the region’s largest market, accounting for 40 per cent of the total.
TABLE: Gulf projects ($m)
| 21 January 2008 | 14 January 2007 | % change on week | 21 January 2007 | % change on year | |
| Bahrain | 27,821 | 28,101 | -1.0 | 33,045 | -15.8 |
| Kuwait | 274,597 | 274,597 | 0.0 | 212,975 | 28.9 |
| Oman | 51,023 | 51,265 | -0.5 | 39,506 | 29.2 |
| Qatar | 158,347 | 156,572 | 1.1 | 132,325 | 19.7 |
| Saudi Arabia | 400,952 | 398,462 | 0.6 | 308,701 | 29.9 |
| UAE | 714,940 | 706,151 | 1.2 | 483,622 | 47.8 |
| GCC total | 1,627,680 | 1,615,148 | 0.8 | 1,210,174 | 34.5 |
| Iran | 142,800 | 141,330 | 1.0 | 103,213 | 38.4 |
| Iraq | 33,450 | 33,450 | 0.0 | 28,460 | 17.5 |
| Regional total | 1,803,930 | 1,789,928 | 0.8 | 1,341,847 | 34.4 |
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