Overall the index remains down year-on-year
Development plans in Saudi Arabia edged the value of the kingdoms projects higher on the Gulf Projects Index up 0.6 per cent. However, conditions in the market remain tough, with value of Saudi projects down 15.8 per cent year-on-year.
In total, there are $3.3 trillion-worth of projects planned or under way in the Gulf, as of 23 March, down 1.7 per cent on the same period in 2015.
In numbers
$3.2bn Increase the the value of projects in Saudi Arabia
15.8 per cent Saudi Arabias year-on-year decline
$385m Value of projects in the UAE placed on hold
| Projects planned or under way 23 March 2016 ($bn) | |||||
|---|---|---|---|---|---|
| Country | 23-Mar-16 | 18-Mar-16 | % change on week | 27-Mar-15 | % change on year |
| Bahrain | 73,027 | 73,017 | 0.0 | 63,128 | 15.7 |
| Kuwait | 254,665 | 254,376 | 0.1 | 231,995 | 9.6 |
| Oman | 175,243 | 174,340 | 0.5 | 164,475 | 6.0 |
| Qatar | 284,620 | 284,858 | -0.1 | 297,617 | -4.3 |
| Saudi Arabia | 1,013,167 | 1,006,756 | 0.6 | 1,196,209 | -15.8 |
| UAE | 857,073 | 855,874 | 0.1 | 794,039 | 7.8 |
| GCC | 2,657,795 | 2,649,221 | 0.3 | 2,747,463 | -3.6 |
| Iran | 271,875 | 271,355 | 0.2 | 188,525 | 43.9 |
| Iraq | 369,210 | 368,337 | 0.2 | 408,549 | -9.8 |
| Gulf Total | 3,298,880 | 3,288,913 | 0.3 | 3,344,537 | -1.7 |
| For further information visit www.meed.com/projects/gulf-projects-index | |||||
| Project updates this week | ||
|---|---|---|
| Country | Project name | Status |
| Iraq | Khor al-Zubair terminal: jetty works | Main contract bid |
| Kuwait | The Avenues: phase 4 hotels package | Design |
| Oman | Duqm independent water project | Prequalification |
| Saudi Arabia | Security Compound: KAP 2 package E2 (Medina and Taif) | Execution |
| UAE | La Mer reclamation and dredging package | Execution |
| For further information visit http://www.meedprojects.com/home | ||
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