The Iranian increase was the main factor behind the overall index edging up by 0.5 per cent to $1.8trillion. In terms of project activity, Iran still lags well behind most of its neighbours, but the republic’s track record of implementation is poor, with bureaucracy leading to delays.

TABLE: Gulf projects ($m)

28 January 2008 21 January 2008 % change on week 28 January 2007 % change on year
Bahrain 27,821 27,821 0.0 33,155 -16.1
Kuwait 274,597 274,597 0.0 213,225 28.8
Oman 51,023 51,023 0.0 41,106 24.1
Qatar 156,192 158,347 -1.4 132,325 18.0
Saudi Arabia 400,882 400,952 0.0 312,451 28.3
UAE 717,223 714,940 0.3 486,422 47.4
GCC total 1,627,738 1,627,680 0.0 1,218,684 33.6
Iran 151,685 142,800 6.2 103,213 47.0
Iraq 33,465 33,450 0.0 28,460 17.6
Regional total 1,812,888 1,803,930 0.5 1,350,357 34.3

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