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Deyaar bucks Dubai market drop on foreign ownership hike

: Sunday, April 06 - 2014 @ 15:08

The Dubai Financial Market General Index (DMFGI) closed 0.80 per cent lower at 4,581.32 points on Sunday, April 6, after the gauge gained non-stop last week. Deyaar gained 3.11 per cent to reach AED1.66. On Saturday, April 5, Deyaar received the green light from its shareholders to increase foreign ownership to 25 per cent. Emaar fell back below AED10, closing off by 1.63 per cent at AED9.93. Oman Insurance finished 4.51 per cent lower at AED3.60. Arabtec lost 0.65 per cent, falling to AED6.11. Earlier in the day, the UAE’s first construction firm said it started to prepare a master plan for the million housing units project in Egypt, which Arabtec will build for $40 billion. A total of 1.085 billion shares were traded, valued at AED2.14bn.

Gérard Al-Fil

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Sunday, April 6- 2014 @ 15:08 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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