As the chart below shows, the Qatar market is way out front with just one month of the year remaining.  With a current year-to-date return of 17% the QE Index is outperforming the other GCC markets by some margin.

Now that Qatar has won the bid to host the 2022 World Cup it will be interesting to see how that market finishes the year.

After its recent surge the Dubai market fell back during November and will have to put in a strong performance in December to having any chance of achieving a positive return for 2010.  For the other markets it will be a photo finish to see who finishes in the black or red this year.

Enjoy.