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Union Properties hits 3-year high as developer announces new projects
- United Arab Emirates: Sunday, May 12 - 2013 at 14:04
With backwind from U. S. and German exchanges which reached new all time highs last Friday, the Dubai Financial Market General Index closed 0.34% higher to reach 2,185.02 points Sunday. Bellwether share Emaar Properties gained 0.91% to hit Dhs5.55. Its rival Union Properties (UPP) surged 3.12%, closing at Dhs0.496, the highest level since April 7 2010. In today's issue of the Dubai-based Daily Al Bayan newspaper, UPP published a job advertisement on page 6, saying it was looking to recruit a chief construction officer, one project manager and a financial analyst in order to "to deliver distinguished quality of superior range of new project developments in Dubai." Shares of Mahshreq Bank, the only privately held local lender in the UAE lost the most, finishing down 8.89% at Dhs41. Some 628m shares were traded, valued at Dhs693.5m.
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Gérard Al-Fil, Financial JournalistSunday, May 12 - 2013 at 14:04 UAE local time (GMT+4)
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