Kuwait has recorded a 0.9 percent rise on the “MEED Projects” index to $ 231 billion, as a result of adding new projects and budgeted amendments.
According to MEED magazine, 6 out of 8 markets on the MEED Projects, which tracks the growth of the Gulf markets, recorded varying gains. The value of the index fell 0.69 percent from $ 3.45 trillion in April to $ 3.42 trillion in May. Indicating that the decline was driven by a decline of 1.64 percent, the value of the projects market in the GCC countries to 2.79 trillion dollars in May.
The magazine pointed to the registration of 6 of the eight markets following the Gulf index growth between April and May, indicating that Iraq is a better performance between markets, it grew 4.25 percent, with projects amounted to $ 394.6 billion on May 13, compared with $ 378.5 billion in mid-April.
Project markets in Qatar, Bahrain and Oman have grown 1.45, 1.06 and 0.13 percent, respectively, while the Saudi market was the worst performance and declined 2.96 percent from $ 1.4 trillion on April 15 to $ 1.36 trillion on May 13.
The magazine revealed the expectation of the UAE project market by 1.19 percent to $ 761.3 billion compared to $ 770.5 billion in April.
Source (Alrai Kuwaiti Newspaper, Edited)
