Dubai’s stock exchange (the bourse) posted its largest gains in more three weeks this week, as blue chip property stocks soared.
The Dubai Financial Market General Index jumped more than 1% on Monday (18 May), and closed higher by 1.3%. Tuesday (19 May) saw the index extend its gains for a third consecutive trading session, adding another 1.35% by the close.
Real estate stocks were the main drivers of the index’s charge, with the heavyweight Emaar Properties making gains and Damac Properties also significantly appreciating.
Damac Properties ended more than 5.8% up, rising to its highest level in more than two weeks at Dh3.25, while Emaar Properties gained around 2.4% to reach Dh8.14.