Real estate related economic and financial news covering the MENA region.
Dubai market defends level at 1,500 points
Jul 29, 2012
The DFM General Index opened strongly but lost staem over the day and closed insignificantly lower at 1,509.05 points. Emaar dipped 0.31% to Dhs3.24. After the closing, Emaar reported an 82% year-on-year increase in net profits for the frst half-year of 2012, amounting to 1.220 billion Dirham (330 million U. S. dollars). Year-to-date, Emaar shares increased by 33% in value. Shares of the DFM, the sole Arab market publicly traded, bucked the trend and gained 0.41% to reach Dhs0.97 (0.26 U. S. dollar).