Real growth in the Gulf is likely to strengthen in the fourth quarter, especially after economic activity held up better than normal in the traditionally quieter summer and Ramadan period, says EFG Hermes. Notes there were signs of an increase in Saudi project awards in 3Q, after a deceleration in the value of awards since mid-2012. “We also see a pickup in the pace of project implementation in the UAE, alongside rising confidence and broadening economic depth.” Says with the higher project awards in 2Q (Qatar and UAE) and expected in 3Q (Saudi), EFG forecasts a pickup in investment growth in 4Q, and particularly in 2014. Reckons a successful 2020 Expo bid for Dubai would add further impetus.