The ongoing real estate boom in Dubai continues to fuel share prices of real estate-related companies.
On Thursday, April 10, the Dubai Financial Market General Index (DFMGI) closed 1.11 per cent higher at 4,839.39 per cent. Arabtec and Union Properties were the most liquid shares, advancing 1.16 per cent and 4.36 per cent, respectively. Emaar ended up by 3.45 per cent to AED10.50. According to real estate consultancy Jones Lang LaSalle (JLL), prices for residential real estate in Dubai increased in the first quarter by 33 per cent over the same quarter last year. “Prices are expected to continue their upward trajectory over the remainder of 2014, albeit at a slower rate,” says JLL. Drake and Scull International, the biggest UAE firm in property maintenance and energy and water supply, lost the most, finishing a bullish week 1.68 per cent lower at AED1.76.
Thursday, April 10- 2014 @ 17:32 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.