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Emaar shares lose ground

: Tuesday, February 25 - 2014 @ 18:57

The Dubai Financial General Index (DFMGI) rebounded by 1.78 per cent to 4,196.85 points on Tuesday, February 25. Emaar Properties, the biggest developer in the Middle East region by market value, jumped by 2.85 per cent to AED9.02. It rival Deyaar Development ended up by 3.20 per cent at AED1.29. Earlier in the day, the Islamic property firm said that it added 2,600 new properties to its property and asset management portfolio in 2013, bringing the total tally to 20,369 units. The majority of the new contracts have been secured in Abu Dhabi, Dubai, Sharjah and Ajman, while growing interest of landlords in Al Ain, Ras Al Khaimah and Fujeirah also contributed to the upturn in Deyaar’s division, says the developer. The rental earnings from these properties have grossed to more than AED650 million ($177.26m) in 2013. Trading turnover increased by 23 per cent over yesterday, 1.01 billion shares were traded, valued at AED2.3 billion.

Gérard Al-Fil

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Tuesday, February 25- 2014 @ 18:57 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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