The Gulf’s smallest and largest markets, Bahrain and the UAE, fuelled the growth, with the value of projects planned and under way in the kingdom rising by 17 per cent, and in the federation by 1.8 per cent.

The only Gulf market to experience a decline in its projects portfolio was Oman, which dipped by 0.7 per cent.

Year on year, the index is up in value by almost 50 per cent.

Table: Gulf Projects ($m)

26 August 2008 18 August 2008 % change on week 26 August 2007 % change on year
Bahrain 46,713 40,048 16.6 31,835 46.7
Kuwait 295,249 295,253 0.0 250,647 17.8
Oman 91,681 92,315 -0.7 48,096 90.6
Qatar 211,079 210,614 0.2 137,911 53.1
Saudi Arabia 532,732 532,386 0.1 370,954 43.6
UAE 951,845 934,632 1.8 662,874 43.6
GCC total 2,129,299 2,105,248 1.1 1,502,317 41.7
Iran 238,222 237,384 0.4 107,115 122.4
Iraq 75,026 75,026 0.0 26,097 187.5
Gulf total 2,442,547 2,417,658 1.0 1,635,529 49.3

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