Kuwait ranked 4th in Gulf and 6th regionally in project awards

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KUWAIT CITY, Dec 1: Kuwait continued its progress on the MEED Index for awarded projects in the Middle East and North Africa last October, as the value of contracts awarded by Kuwait amounted to USD 93 million, registering a jump of 86 percent compared to the value of contracts concluded in September, which amounted to USD 50 million, reports Al-Anba daily. Kuwait thus ranked fourth in the Gulf region for the second month in a row, and advanced from the sixth position to the fifth position regionally.

According to the report, this increase follows a 79 percent increase recorded by Kuwait in the value of awards recorded in September compared to August. The Kingdom of Saudi Arabia topped the list with the largest value of deals signed in October, amounting to USD 4.609 billion, followed by Qatar in second place with a value of USD 4.5 billion. The UAE came third place with contracts worth USD 1.207 billion. Kuwait, Oman and Bahrain ranked fourth, fifth and sixth places in the Gulf respectively with contracts worth USD 93 million, USD 60 million and USD 10 million.