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Iraqi investments push the “Med Projects” index to rise
July 28, 2024 Last updated: July 28, 2024
Independent/- The “Med Projects” index for Gulf projects witnessed an increase of 0.7% during the period from June 7 to July 12, driven mainly by an increase in the value of projects in the Iraqi market.
The Iraqi market achieved significant gains amounting to $26.3 billion, equivalent to an increase of 7%.
This rise is due to the reactivation of plans to establish a national network of high-speed railway lines throughout the country,
reflecting the trend towards improving infrastructure and transportation in Iraq.
In addition to Iraq, project markets in other Gulf countries witnessed remarkable growth, as the
value of the project market in the UAE increased by about $10.6 billion, or by 1.3%.
Despite this growth, the project market in Saudi Arabia witnessed a contraction of $13.9 billion, which is equivalent to a decrease of 0.7%, returning to the value level it was in mid-May.
In Qatar, the value of the projects market increased by $3.9 billion, or 1.7%, while the projects market in Bahrain added $2 billion, or 2.9%. In Oman, the market witnessed a slight increase of $0.2 billion, equivalent to 0.1%.
The total value of the Gulf projects index
The value of the projects index in the Gulf Cooperation Council countries reached $3.447 trillion, recording an increase of 0.1% over the previous period.
The broader Gulf index, which includes Iraq and Iran, also rose by 0.7% to reach $4.138 trillion.
Thus, the index continues to rise for the sixteenth consecutive month since March 2023, reflecting the continuing upward trend in the regional projects market.
Impact of railway projects
A key factor in the index's recovery is renewed ambitions for rail projects in the region.
These projects are not only a way to improve infrastructure and facilitate transportation, but
they also promote economic development and provide new job opportunities.
[You must be registered and logged in to see this link.]
July 28, 2024 Last updated: July 28, 2024
Independent/- The “Med Projects” index for Gulf projects witnessed an increase of 0.7% during the period from June 7 to July 12, driven mainly by an increase in the value of projects in the Iraqi market.
The Iraqi market achieved significant gains amounting to $26.3 billion, equivalent to an increase of 7%.
This rise is due to the reactivation of plans to establish a national network of high-speed railway lines throughout the country,
reflecting the trend towards improving infrastructure and transportation in Iraq.
In addition to Iraq, project markets in other Gulf countries witnessed remarkable growth, as the
value of the project market in the UAE increased by about $10.6 billion, or by 1.3%.
Despite this growth, the project market in Saudi Arabia witnessed a contraction of $13.9 billion, which is equivalent to a decrease of 0.7%, returning to the value level it was in mid-May.
In Qatar, the value of the projects market increased by $3.9 billion, or 1.7%, while the projects market in Bahrain added $2 billion, or 2.9%. In Oman, the market witnessed a slight increase of $0.2 billion, equivalent to 0.1%.
The total value of the Gulf projects index
The value of the projects index in the Gulf Cooperation Council countries reached $3.447 trillion, recording an increase of 0.1% over the previous period.
The broader Gulf index, which includes Iraq and Iran, also rose by 0.7% to reach $4.138 trillion.
Thus, the index continues to rise for the sixteenth consecutive month since March 2023, reflecting the continuing upward trend in the regional projects market.
Impact of railway projects
A key factor in the index's recovery is renewed ambitions for rail projects in the region.
These projects are not only a way to improve infrastructure and facilitate transportation, but
they also promote economic development and provide new job opportunities.
[You must be registered and logged in to see this link.]
