Emaar gains at least 48 per cent surge in Q1 2013
11/03/2013
Emaar Properties PJSC, a builder of the tallest tower not only in Dubai but throughout the world, has also experienced growth in its property assets. In fact, within four years from the onset of financial crisis, it has started recovering from the impacts, including its shares that rallied 3 per cent to AED5.56 which has been considered the highest close since October 2008.
In fact, based on the data compiled by Bloomberg, the stock was the biggest gainer as well as a second-most traded on the benchmark DFM General Index (DFMGI) that increased at least 1.5 per cent.
According to Waleed Al Khateeb, a Senior Finance Manager at Daman Securities LLC which is a leading investment organization in the UAE or Middle East region, he said that such positive results received by the company have also helped recover the Emirate’s property market to some extent.
So far, Emaar has gained around 48 per cent surge in the first quarter of the year, which is quite considered as the best-performing stock on Dubai’s stock index. For this reason, the company is being poised to report its 9 per cent increase in this year’s earnings after such an advance of 18 per cent in the previous year.
Moreover, according to Sami Al Qamzi, Director General of Dubai Department of Economic Development (DED), he also reported that with regards to Gross Domestic Product (GDP), it will possibly grow more than 4 per cent this current year. Then, he added that for the first two months of the year, the Hotel Occupancy in Dubai has already reached the high levels; for the number of leisure and business travelers have come in Dubai.
Now, Bloomberg advised all the interested property investors to purchase the Emaar’s shares because the HSBC Holdings Plc, a British Multinational Banking and Financial Services Company, expected that the company’s shares will probably increase to AED6 dirhams soon.
In fact, based on the data compiled by Bloomberg, the stock was the biggest gainer as well as a second-most traded on the benchmark DFM General Index (DFMGI) that increased at least 1.5 per cent.
According to Waleed Al Khateeb, a Senior Finance Manager at Daman Securities LLC which is a leading investment organization in the UAE or Middle East region, he said that such positive results received by the company have also helped recover the Emirate’s property market to some extent.
So far, Emaar has gained around 48 per cent surge in the first quarter of the year, which is quite considered as the best-performing stock on Dubai’s stock index. For this reason, the company is being poised to report its 9 per cent increase in this year’s earnings after such an advance of 18 per cent in the previous year.
Moreover, according to Sami Al Qamzi, Director General of Dubai Department of Economic Development (DED), he also reported that with regards to Gross Domestic Product (GDP), it will possibly grow more than 4 per cent this current year. Then, he added that for the first two months of the year, the Hotel Occupancy in Dubai has already reached the high levels; for the number of leisure and business travelers have come in Dubai.
Now, Bloomberg advised all the interested property investors to purchase the Emaar’s shares because the HSBC Holdings Plc, a British Multinational Banking and Financial Services Company, expected that the company’s shares will probably increase to AED6 dirhams soon.
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