For the second week, Iran registered the highest growth, with the total value of projects in the Islamic Republic rising by 4.1 per cent.

Activity also increased in Oman, Qatar and the UAE, but declined in Kuwait and Saudi Arabia. Year on year, the MEED Projects index is up by 37 per cent.

TABLE: Gulf projects ($m)

4 February 2008 28 January 2008 % change on week 4 February 2007 % change on year
Bahrain 27,821 27,821 0.0 33,355 -16.6
Kuwait 273,950 274,597 -0.2 213,425 28.4
Oman 52,112 51,023 2.1 42,256 23.3
Qatar 159,207 156,192 1.9 132,300 20.3
Saudi Arabia 400,132 400,882 -0.2 314,251 27.3
UAE 724,707 717,223 1.0 489,512 48.0
GCC total 1,637,929 1,627,738 0.6 1,225,099 33.7
Iran 188,175 159,658 24.1 104,298 80.4
Iraq 33,615 33,465 0.4 28,460 18.1
Regional total 1,859,719 1,812,888 2.6 1,357,857 37.0

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