Weakening Dubai developers weigh on market index
The Dubai Financial Market General Index closed 0.60 per cent lower to 3,770.38 points amid low trading turnover on Thursday, January 30. Market bellwether Emaar Properties ended down by 1.23 per cent to AED8 Earlier in the week, Emaar confirmed that its CEO had been exchanged, but only days after media reports hinted at a change in management. Abdullah Lahej, an Emirati national took over from Low Ping, who would remain an advisor to Emaar Chairman HE Mohammed Ali Rashed Alabbar on real estate investments in Asia. Union Properties closed unchanged at AED1.57.