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Dubai market conditions improve

Dubai witnessed yet another positive week of trading this week with property stocks reaching new highs. Deyaar Development rose by 9.4%, its highest level in 3 months while Union Properties climbed 14.9%, its highest point in over a year.

Dubai’s financial markets as a whole ended positively this week with The Dubai Financial Market General finishing 1.4% higher.

The head of asset management at Daman Investments in Dubai said “You’re seeing a lot more liquidity coming into the market where people were once on the sidelines,” “Money which was in fixed income is now being put to work,” he added.

The news comes in conjunction with widespread confidence returning to Dubai’s tourism and real estate markets that have seen something of so far this year. The success of property companies on the stock market has been mirrored in real terms with enquires for property in Dubai increasing significantly.

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