Union Properties rise to near 4-year high

The DFM General Index gained 0.27% to 2,538.56 n Thursday. Over this most volatile trading week, the Dubai market measure gained 7.9% after a Russian initiative to solve the Syrian crisis triggered a relief rally on Tuesday.

Shares of district cooling specialist Tabreed gained the most (up 3.03% at Dhs2.38), while Union Properties added 2.13% to reach Dhs0.672, the highest level since Jan. 2010.

Earlier in the week, global real estate consultant Knight Frank said Dubai property prices rose most in the world in the period from June 2012 to June 2013, advancing by an an average of 21.7%.

Emaar remained “nailed” at Dhs5.75, the second day straight that the UAE’s first developer ended even. Around Dhs480m worth Dhs600m changed hands.

via Union Properties rise to near 4-year high | Finance and Economy | AMEinfo.com.

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