Text size:

  • Small
  • Normal
  • Large
Emaar gained 1.6 per cent after saying it would add a new shopping boulevard, residences and hotels to The Dubai Mall. Jeff Topping / The National
Emaar gained 1.6 per cent after saying it would add a new shopping boulevard, residences and hotels to The Dubai Mall. Jeff Topping / The National

Dubai Mall expansion lifts shares on local market

Markets Wrap: Dubai stocks rose the most in two months after Emaar Properties said it was expanding the world's largest mall.

Dubai stocks rose the most in two months after Emaar Properties said it was expanding the world's largest mall and amid optimism that the Saudi Arabian king's health was improving after back surgery.

Emaar, the developer of the world's tallest skyscraper, gained 1.6 per cent after saying it would add a new shopping boulevard, residences and hotels to The Dubai Mall. Arabtec, the Emirates' biggest publicly traded construction company, advanced the most in a week.

The Dubai Financial Markets General Index climbed 1.2 per cent, the biggest gain since October 1, to 1,607.90 points.

Emaar rallied to a one-month high this week after Dubai's Government said the company would help to build the Mohammed bin Rashid City, which includes plans for a mall surpassing The Dubai Mall in size.

"Positive sentiment is being supported by new projects announced by Emaar, and the good news about the health of the Saudi king after his appearance in the media yesterday for the first time after his back surgery," said Nabil Farhat, a partner at Al Fajr Securities in Abu Dhabi.

In the capital, the Abu Dhabi Securities Exchange General Index gained 1 per cent to 2,674.56.

Saudi shares fell 3.8 per cent this month as concern mounted that King Abdullah bin Abdulaziz Al Saud's health might deteriorate after he underwent surgery. But the kingdom's state television yesterday showed images of the king meeting senior government officials.

The DFM General Index's performance this year outpaces a gain of 1.8 per cent for the Saudi Tadawul All Share Index. Saudi shares will rally tomorrow following the footage of the king, said Mr Farhat. The market was closed yesterday.

Back to the top

More articles


Editor's Picks

 Cityscape Abu Dhabi 2014 will run until April 24, 2014. Fatima Al Marzooqi / The National.

In pictures: Cityscape Abu Dhabi 2014 opens
at Adnec

Key developments and master plans are being unveiled at this year’s property exhibition in the capital.

 Marina Square apartments Reem Island: Q1 2% rise. Studio - Dh65-68,000. 1BR - Dh75-95,000. 2BR - Dh110-145,000. 3BR - Dh170-190,000. Q1 2013-Q1 2014 no change. Sammy Dallal / The National

In pictures: Where Abu Dhabi rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Abu Dhabi have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Designed by London-based Thomas Heatherwick, founder of Heatherwick studio, the park will feature an outdoor cinema, an organic garden, picnic areas and cafes and restaurants. Photo courtesy Salama bint Hamdan Al Nahyan Foundation

Futuristic Abu Dhabi park to be built in the desert shade

Spread over 125,000 square metres, Al Fayah Park, on Airport Road, will be covered by a sand-coloured canopy, 20 metres high, with the appearance of cracked desert land from above.

 Room with a view from one of the 21 duplex penthouses located in the Gate Towers sky-bridge. The sports courts and swimming pools can be seen below. Courtesy Alda

In pictures: Aldar’s Gate Towers Penthouse Collection on Reem Island

Aldar launched its Gate Towers Penthouse Collection at Cityscape Abu Dhabi. The launch features 21 penthouses spanning the skybridge, with each having a private indoor pool and incredible views.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.

Events

To add your event to The National listings, click here

Get the most from The National