Data shows value of projects planned or under way ($bn)

Led by Oman, country indices in the Gulf region’s smaller project markets increased the most during the week ending 14 September.

Oman rose 11.5 per cent on the weekly index on account of a new independent power and water project in the sultanate’s Al-Wusta governorate, as well as the inclusion of the Duqm New Town project budget in its projects inventory.

In Iraq, an upward budget adjustment of $2bn to the Zubair field development project, along with a planned $300m cement plant in Ramadi, triggered a 1.9 per cent rise in the country’s projects market during the week.

Bahrain and Kuwait rose 0.4 per cent and 0.1 per cent respectively, while Qatar’s index remained unchanged.

Four new projects were added to Bahrain’s index, including the $500m planned expansion of the Awali oil field. The budget for the Diyar al-Muharraq mixed-use project was also revised upwards.

In Kuwait, two new packages for phase 2 of the Jurassic non-associated gas project were added to the country’s index.

The Gulf’s two largest markets, Saudi Arabia and the UAE, each shed 0.1 per cent, while Iran slipped by 3 per cent due to the cancellation of several projects, including the $1bn first phase of the Kish gas refinery scheme.

Country 14 Sep 2018 7 Sep 2018 % change on week 15 Sep 2017 % change on year
Bahrain 87,322 87,006 0.4% 83,790 3.8%
Kuwait 294,198 294,003 0.1% 261,689 12.3%
Oman 182,713 163,878 11.5% 184,173 -11.0%
Qatar 243,912 243,844 0.0% 255,166 -4.4%
Saudi Arabia 1,485,577 1,487,080 -0.1% 980,891 51.6%
UAE 877,973 878,629 -0.1% 875,622 0.3%
GCC 3,171,695 3,154,440 0.5% 2,641,331 19.4%
Iran 345,146 355,939 -3.0% 335,497 6.1%
Iraq 388,813 381,618 1.9% 350,315 8.9%
Gulf total 3,905,654 3,891,997 0.4% 3,327,143 17.0%