The UAE has 103 office developments underway worth a combined $10.62 billion, more than any other country in the Gulf Cooperation Council, a research report said on Saturday.

The report from Proleads, a Dubai-based market research company, said approximately 50 per cent of these developments in the UAE are due for completion this year, while the rest are expected to be finished in 2010.

Quoting the report, Khaleej Times said office projects worth $15.7 billion are progressing across the GCC, despite the global economic downturn.

The report added there are currently 156 office developments underway across the region, with 74 due for completion in 2009 and 82 due for completion in 2010.

Among the major office developments in the UAE are the 45-floor Highfield Commercial Towers in Ajman, the 29-storey Michael Schumacher Business Avenue, located at Dubai’s Business Bay and The Gate District, part of the Dubai International Financial Centre, comprising of 10 commercial towers.

In Saudi Arabia, meanwhile, there are 21 office developments worth $2.624 billion due for completion in 2010.

In Qatar, 11 office developments, valued at $1.269 billion, are set for completion in 2010.