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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