Thu 12-10-2017 16:17 PM

Value of property shares on UAE stock markets surges to AED43.8 billion in 9 months

ABU DHABI, 12th October, 2017 (WAM) -- The value of real estate shares traded on UAE stock markets during the first 9 months of 2017 amounted to AED43.8 billion, accounting for 34.6 percent of the total transactions conducted on the country's two main bourses since the beginning of the year, which is estimated at AED126.6 billion.

The growing trading share boasted by the real estate sector reflects the investors' growing confidence in the sector in light of the volatility suffered by other trading companies' shares, according to market analysts.

In the meantime, official market statistics indicated that property transactions worth AED31.8 billion were conducted at the Dubai Financial Market since January through the end of September, making up to 37 percent of the total transactions, estimated at AE86.6 billion.

Property deals on Abu Dhabi Securities Exchange hit AED12 billion by the end of September, comprising 29.4 percent of the total volume of trading, put at AED40.7 billion.

Emaar led property shares with transactions estimated at AED8.6 billion, accounting for 27 percent of total real estate deals on DFM, followed by Arabtec with transactions worth AED6.8 billion, and Union Properties with AED 6.3 billion.

Eshraq Properties came first on ADX with transactions worth AED6.6 billion, accounting for 55 percent of total realty deals on the capital's bourse while Aldar trading stood at AED3.8 billion, and RAK Properties at AED1.6 billion.

In total, property deals on the country's two main bourses were valued at more than AED20 billion during Q1 2017, AED14.3 billon of which on DFM.

 

WAM/Hatem Mohamed