Saudi Arabia saw the greatest decline, losing 2.9 per cent on the value of projects planned or underway in the country. Only Iraq increased its volume of current projects. The total value of projects on hold is now over $647bn and the index is down 9.3 per cent on the previous year.

Value of projects planned or under way in the Gulf
Bahrain 67,569 67,682 -0.2% 68,049 -0.7% 14,043
Kuwait 289,532 289,482 0.0% 308,482 -6.1% 24,813
Oman 104,934 105,214 -0.3% 108,943 -3.7% 6,970
Saudi Arabia 622,624 641,149 -2.9% 644,841 -3.4% 71,537
UAE 966,764 966,764 0.0% 1,309,393 -26.2% 479,000
GCC total 2,272,821 2,293,689 -0.9% 2,662,377 -14.6% 621,574
Iran 335,442 335,392 0.0% 306,436 9.5% 4,800
Iraq 229,074 228,076 0.4% 156,695 46.2% 21,000
Gulf total 2,835,201 2,857,157 -0.8% 3,125,508 -9.3% 647,374
Source: MEED Projects