Dubai Stock Market Rises as Real Estate and Industrial Sectors Drive Gains
Dubai’s primary stock market index wrapped up the week on a positive note, closing higher on Friday, fueled by strong performances in the real estate and industrial sectors. Meanwhile, Abu Dhabi’s index saw a slight dip after two consecutive sessions of gains.
The Dubai Financial Market rose by 0.4%, marking its third straight session of growth. Key contributors to this uptick included a 1.5% increase in shares of Emaar Properties, one of Dubai’s leading developers, and a 1.9% jump in the state-backed parking operator, Parkin Company.
Another notable performer was Shuaa Capital, an investment bank that climbed 1.5%. This came after the bank announced a settlement agreement with a major creditor as part of its ongoing efforts to optimize capital structure.
In contrast, Abu Dhabi’s main stock index dipped by 0.1%, halting its recent upward trend. The decline was driven by a 1.4% drop in shares of First Abu Dhabi Bank, the UAE’s largest lender, and a 0.9% decrease in Emirates Telecom Group.
The mixed performance reflects the dynamic nature of the UAE’s financial markets, with sector-specific developments shaping investor sentiment.
