By: Bedour Al Ra'ee
Dubai– Mubahser: The UAE’s real estate stocks saw a noticeable decline on Tuesday, coinciding with the inauguration of Cityscape Global in Dubai.
Union Properties gained 0.44% to AED 0.680, while Manazel Real Estate dropped 2.23% to AED 0.439
Emaar Properties fell 1.95% to AED 5.02. Aldar Properties also dropped 1.67% to AED 1.77.
Deyaar Development fell 1.14% to AED 0.434 and Emaar Malls fell 1.08% to AED 1.84.
Eshraq Properties fell 0.51% to AED 0.582, while Damac Properties was down 0.48% to AED 2.06.
The Abu Dhabi Securities Exchange’s real estate sector fell 0.78% to 5018.92 points, losing about 39.34 points.
Meanwhile, the Dubai Financial Market’s property shares dipped 1.33% to 2897.17 points, shedding 3 points.
Cityscape Global, the Middle East’s largest real estate exhibition and conference, kicked off on Tuesday at the Dubai World Trade Centre (DWTC), amid massive international and regional investors’ turnout.
Running from 2 until 4 October, Cityscape Global will host about 300 real estate exhibitors and their projects in its pavilions covering an exhibition area of 42,000 square metres.
Translated by: Dunya Hassanin
