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Deyaar on the move as Q1 profit doubles
- United Arab Emirates: Thursday, May 02 - 2013 at 14:06
The DFM General Index lost 0.37% to 2,128.79 points Thursday. The gauge gained 2.31% over the week. Deyaar Development jumped 3.95% to hit Dhs0.395. Earlier in the day, the Islamic real estate firm said the profit in the first quarter was Dhs19.4m, up from Dhs9.4m. "The real estate market has seen an incline, which has backed our growth and will continue to do so in the future," said Deyaar chairman Abdulla Ali Obaid Al Hamli. Emaar dipped 1.28% to Dhs5.47, despite chairman Mohammed Alabbar's announcement to develop (again) the world's tallest tower in Dubai which shall top the over 1,000 meters high Kingdom Tower, currently under construction in Jeddah, Saudi Arabia. Union Properties bucked the sluggish market trend by gaining 2.36%, finishing the first trading days in May at Dhs0.477.
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Gérard Al-Fil, Financial JournalistThursday, May 02 - 2013 at 14:06 UAE local time (GMT+4)
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