The change was driven by a 9.9 per cent rise in the Saudi Arabian market and a 3.1 per cent increase in Oman’s portfolio of projects. The value of Bahraini projects remained unchanged, while the Iranian market experienced a 1.5 per cent drop. The index is up by 40 per cent on the previous year.
TABLE: Gulf projects ($ m)
3 March 2008 | 25 February 2008 | % change on week | 3 March 2007 | % change on year | |
Bahrain | 30,883 | 30,883 | 0.0 | 32,670 | -5.5 |
Kuwait | 264,602 | 262,772 | 0.7 | 233,040 | 13.5 |
Oman | 54,505 | 52,885 | 3.1 | 42,156 | 29.3 |
Qatar | 177,020 | 176,856 | 0.1 | 132,655 | 33.4 |
Saudi Arabia | 451,933 | 411,398 | 9.9 | 324,141 | 39.4 |
UAE | 735,912 | 734,290 | 0.2 | 497,962 | 47.8 |
GCC total | 1,714,855 | 1,669,084 | 2.7 | 1,262,624 | 35.8 |
Iran | 189,020 | 191,820 | -1.5 | 102,870 | 83.7 |
Iraq | 47,815 | 47,765 | 0.1 | 28,460 | 68.0 |
Regional total | 1,951,690 | 1,908,669 | 2.3 | 1,393,954 | 40.0 |
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