Real estate related economic and financial news covering the MENA region.
Arabtec dives after announcing half-year results
Aug 08, 2012
The DFM General Index closed 0.10% lower at 1,555.65 points Wednesday amid higher trading volumes than on Tuesday. Arabtec Construction, one of the Middle East's largest companies in its sector, dived four percent to close at Dhs2.90. Arabtec reported earlier in the day a loss for the second quarter amounting to Dhs11.6m. down from a profit of Dhs28.97m in the same period last year. In the first six months, Arabtec earned Dhs72.5m, up from Dhs55.5m in H1 2011. Emaar Properties slipped 0.89% to Dhs3.35.
The UAE's first lender Emirates NBD bucjed the trend by gaining 4.60%, finishing at Dhs2.97.