Complex Made Simple

Union Properties gains on new projects

The Dubai Financial Market General Index closed on Wednesday 0.17 percent higher lower at 2,798.33 points. Union Properties, the second developer in Dubai was the most liquid share, finishing 2.80% higher at Dhs0.85. At the ongoing Cityscape, Union showcases its latest project, a shopping district  whose architecture is similar to the world-famous Champs-Elysées near the Dubai Motor City. Dubai Investment Company (DIC) gained 0.50% to close at Dhs2.06. Earlier in the day, DIC said its subsidiary Dubai Investments Real Estate Company has commenced working on new residential and commercial projects at strategic locations within Mirdif, Meydan and Jumeirah in Dubai. The new projects follow the success achieved by DIRC on its RITAJ project, the residential complex located in Dubai Investments Park. DIC said the company has sold or leased most of the residential units within RITAJ, which comprises over 2,000 apartments in 11 blocks spread across 2,580,000 square feet. Emaar declined by 0.83% to Dhs5.95. Market breath was negative as 7 shares gained, while 16 lost in value. Some 410m shares were traded, valued at Dhs455m.