Like the Dubai equity index DFMGI, the Abu Dhabi equity index ADXGI regained territory on Monday, May 12, closing 0.38 per cent higher at 5,007.14 points. Eshraq Properties was the most liquid share, ending 3.26 per cent higher at AED1.90. Dana Gas gained 3.53 per cent and Aldar Properties surged by 3.87 per cent.
Earlier in the day, Arjuna Mahendran, chief investment officer of private banking at Emirates NBD said that he is expecting another strong year for the UAE real estate market. “Now, it is the turn of Abu Dhabi properties,” he writes in the lender’s quarterly markets assessment report, entitled: Climbing a Wall of Worry. The positive investor sentiment has moved into the UAE capital “as Abu Dhabi enjoys significant infrastructure investment and master developments nearing completion”.
Monday, May 12- 2014 @ 18:30 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.