Emaar Properties stocks have recently recorded the best month in three years, hinting at an imminent turnaround in Dubai`s financial market as well as the underlying economy.
The Emaar blue chip, considered a bellwether for the Dubai financial market and the emirate`s property sector, was seeing increased demand following results exceeding the market`s expectations as well as an overall improved market sentiment.
James Johnstone, London-based co-head of emerging and frontier markets at RWC Partners LLC, commented: “We think the UAE has reached the bottom of its real estate cycle. We have been using that opportunity to reduce some of our Saudi holdings and reallocate it back into the UAE property stocks that are very cheap and attractively priced.”
Emaar to lead Dubai`s financial market and property sector turnaround
Submitted March 18, 2019 at 05:39AM by catzert https://ift.tt/2Fj0eyg
