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‘Bubble’ warnings keep Dubai market at bay

: Thursday, May 08 - 2014 @ 17:40

The Dubai Financial Market General Index (DFMGI) closed unchanged at 5,302.09 points on Thursday, May 8. Trading turnover plummeted by one third, as approximately 575 million shares worth AED1.68 billion changed hands. Since January 1, the DFMGI has gained 55 per cent in value. Emaar dipped by one per cent to AED10.15. Earlier in the week, the international monetary fund urged the government of Dubai to do more to cool the booming real estate market in order to avoid an overheating. According to Jones Lang LaSalle, Dubai’s real estate values increased by 38 per cent year on year in the first quarter of 2014.

 

Gérard Al-Fil

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Thursday, May 8- 2014 @ 17:40 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.

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