The value of the projects market in Kuwait as of November 11 stood at 205 billion dollars, up from 203 billion recorded until last October 14.

The Al-Rai daily quoting MEED magazine added 7 out of 8 markets on the “Med Projects” index, which tracks projects in the Middle East and North Africa, recorded substantial gains between October 14 and November 11.

While the value of the Gulf projects index grew by 2.6 percent from $3.2 trillion to $3.3 trillion during the period between October 14 and November 11, the projects market in the Gulf Cooperation Council countries grew by 3.3 percent, rising from $2.5 trillion in October to $2.6 trillion in November.

The projects market in Saudi Arabia rose 3.1 percent from $1.29 trillion on Oct 14 to $1.33 on Nov 11. The project markets in Bahrain and the UAE also expanded by 2.1 percent and 1.1 percent, respectively, to reach a valuation of $53 billion and $701.2 billion in November.

The introduction of new projects such as the development of shale oil and the first phase of the Ministry of Transport metro scheme contributed to the growth in Bahrain last month.

The new projects also helped raise the market value of projects in the UAE, and Qatar registered contracts worth $202 billion.

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