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Union Properties soars as shareholders okay Dhs400m loan extension
- United Arab Emirates: Sunday, April 14 - 2013 at 15:32
A volatile Dubai Financial Market closed unchanged at 1,975.70 points on solid volumes. Union Properties or UPP, the 2nd developer in Dubai, jumped 4.50% to hit Dhs0.444, a 2-month high. Earlier in the day, UPP said shareholders gave their nod to the 5-year extension of a Dhs400m loan granted by Abu Dhabi Commercial Bank (off 0.50% at Dhs4.16 (ADX trading)) in 2008. UPP's rival Emaar fell 0.40% to Dhs5.33. Arabtec Construction dived 2.70% to Dhs2.16.
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Gérard Al-Fil, Financial JournalistSunday, April 14 - 2013 at 15:32 UAE local time (GMT+4)
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