It’s real estate shining in UAE markets

Dubai: Equity traders in the UAE are ditching expensive banking shares and opting for relatively cheaper real estate stocks. Emaar Properties shed 22 per cent from April through May and has been on a gaining streak since, up 17 per cent from the lows since then. On Monday, Emaar shares closed at Dh4.88, up 1.67 per cent.

Aldar shares have been on a similar rally since May 19 after falling 17 per cent between March and first-half of May, while the construction giant Arabtec has gained 26 per cent from its low of Dh1.37 on May 20 after falling 66 per cent.

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