The MEED Projects index edged up by just 0.9 per cent to $2.55 trillion in the week to 22 September, as new project activity slackened in the run-up to the Eid al-Fitr holiday.
The highest growth was in Iran, where the total value of projects planned or under way rose by 3.2 per cent.
All other Gulf markets also ended the week in positive territory, with a 0.8 per cent increase in the UAE, leaving the federation on the verge of crossing the $1 trillion mark for the first time.
Table: Gulf Projects ($m)
| 22 Sep 2008 | 15 Sep 2008 | % change on week | 17 Sep 2007 | % change on year | |
| Bahrain | 44,769 | 44,231 | 1.2 | 31,495 | 42.1 |
| Kuwait | 296,219 | 296,319 | 0.0 | 253,122 | 17.0 |
| Oman | 96,414 | 95,955 | 0.5 | 46,316 | 108.2 |
| Qatar | 206,943 | 205,248 | 0.8 | 142,536 | 45.2 |
| Saudi Arabia | 570,437 | 567,652 | 0.5 | 364,908 | 56.3 |
| UAE | 980,728 | 973,117 | 0.8 | 667,044 | 47.0 |
| GCC total | 2,195,510 | 2,182,522 | 0.6 | 1,505,421 | 45.8 |
| Iran | 271,881 | 263,411 | 3.2 | 106,845 | 154.5 |
| Iraq | 82,426 | 82,324 | 0.1 | 28,252 | 191.8 |
| Gulf total | 2,549,817 | 2,528,257 | 0.9 | 1,640,518 | 55.4 |
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