UAE

Emiratis enter China’s real estate investments, solid gains in the stock market…

The stock markets in UAE closed the first month of 2014 on strong gains, and the market has seen a remarkable performance from Dubai and Abu Dhabi, where the Dubai Financial Market scored, during trading in January, the highest monthly trading value in six years, by 36.4 billion dirham, and the average daily trading in Dubai Financial Market during the same month rose to 1.9 billion dirham in comparison with 402 million dirham in January 2013, recording a growth of 190%. Dubai Financial Market index closed at 3770.38 points, down 0.6% from the previous closing level, but on the other hand, it rose by more than 12% in January, after it succeeded in adding about 400 new points throughout the month’s sessions. The Abu Dhabi index closed higher at a rate of 8.92% over the dealings of the month, with the support of real estate stocks and banks, respectively, whereas the turnover in Abu Dhabi amounted to 23 billion dirham during January, after volumes amounted to 10.6 billion shares. It also recorded gains of shares traded increased from 21.3 billion dirham, after rising market value of 259.6 billion dirham at the end of December last year, to reach 280.96 billion dirham at the end of January. Emiratis entered residential projects in Bangkok, valued at 539 million dirham. The UAE is seeking to expand investment opportunities with China, out of sending an electronic gate to China and Asia to promote Dubai real estate. Head of Emmar Properties Company in Dubai, recently revealed the intention of the company to build a new tower higher than Burj Khalifa, which is currently the highest in the world, allowing the UAE to maintain first place on the list of skyscrapers. This real estate project is considered a huge project by all accounts, and it will be included within Mohammed bin Rashid new city. UAE lives in the distinctive rhythmic atmosphere of exhibitions and forums that it is hosting, as it successfully concluded in Dubai’s Shopping Festival at its nineteenth session, over the 32 days of promotions involving nearly 6,000 outlets and about 70 shopping centers.