For the second week running, the Gulf’s smallest projects market, Bahrain, recorded the highest growth, increasing by 3.9 per cent.

With the exception of Iraq, all the other Gulf states registered an increase in their project portfolios.

Year on year, the MEED Projects index has increased in value by 40 per cent.

Table: Gulf Projects ($m)

30 June 2008 17 June 2008 % change on week 29 June 2007 % change on year
Bahrain 38,577 37,127 3.9 33,760 14.3
Kuwait 265,406 263,551 0.7 251,470 5.5
Oman 90,379 89,919 0.5 48,836 85.1
Qatar 207,377 204,276 1.5 138,704 49.5
Saudi Arabia 476,183 473,779 0.5 355,586 33.9
UAE 894,140 883,313 1.2 641,489 39.4
GCC total 1,972,062 1,951,965 1.0 1,469,845 34.2
Iran 226,564 222,039 2.0 111,050 104.0
Iraq 67,776 67,776 0.0 28,582 137.1
Gulf total 2,266,402 2,241,780 1.1 1,609,477 40.8

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