Dh4.45bn in property shares changes hands in two months

By Rajive Singh

ABU DHABI 5 March 2019: The realty sector attracted the largest share of liquidity on the country’s two main bourses during the first two months of the current year.

Up to Dh4.45bn of real estate shares transactions were conducted in January and February, accounting for 24.4 percent of the total trades, valued at Dh18.2bn, according to official figures obtained by the Emirates News Agency.

On Dubai Financial Market, DFM, transactions worth Dh3.7bn have been concluded over the past two months, comprising 33.6 percent of total cash inflows, valued at Dh11 bn, according to DFM statistics.

Emaar was the best performer, drawing Dh1.86 bn in transactions that ratcheted the property giant’s share up to Dh4.90, 18.6 percent up from Dh4.13 by the end of December.

Emaar Malls came second with Dh526 million trades, followed by Emaar Development with Dh364 million and Arabtec, Dh339 million, with the latter securing 13.6 percent in gains since the beginning of the year.

At the capital’s bourse, transactions worth Dh7.2 billion have been conducted since the beginning of the year, Dh760 million of which went for the property sector.

Aldar topped the list of the best performing shares with Dh678 million in trades, ending high at Dh1.90 by the end of February, 11.8 percent up from the end of 2018.