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KUWAIT CITY, June 1: MEED magazine revealed that the value of the Gulf Projects Index grew by 0.4 percent from $3.2 trillion to $3.3 trillion from April 8 to May 6, reports Al-Rai daily. It explained that the growth of $15.6 billion was driven by a 0.26 percent improvement in the value of the projects market in the Gulf countries, which grew from $2.5 billion in April to $2.6 billion in May.
The Kuwaiti projects market was among the markets that recorded growth during the aforementioned period, after it grew by 2.3 percent to reach $210.8 billion, ranking third in the Gulf after Saudi Arabia and the UAE in the value of projects. Five of the eight markets that were tracked on the index recorded gains in this period. Bahrain was the best performer, as the value of its projects rose by 8.6 percent from $51.8 billion in April to $56.2 billion in May. The market value of Iraq grew by two percent to reach $451.8 billion, while the UAE and Qatar recorded a growth of 0.24 percent and 0.03 percent respectively