Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE - UPP surges most since September  Join our daily free Newsletter

MENAFN - Khaleej Times - 06/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Union Properties jumped the most in more than four months on investor bets; Dubai's second-biggest publicly traded developer will get an earnings boost from a real-estate recovery.



Shares of the company known as UPP advanced 9.8 per cent, the most since September 22, to Dh1.79 at the close in Dubai. Volumes surged to more than four times the three-month daily average



The stock has soared 16 per cent since UPP said full year profit surged almost nine-fold. Deyaar Development rose 4.8 per cent after saying on Tuesday that earnings quadrupled



A resurgence in Dubai's real estate market, where prices had more than halved from their 2008 peak, has helped developers recover from the financial crisis. Construction activity has picked up as the Arabian Gulf business hub prepares to host the World Expo in 2020, with about 8 billion in infrastructure spending planned



"Fundamentally, UPP remains one of the key beneficiaries of growing investors' interest in Dubai's property market," Nayal Khan, head of institutional sales and trading at Naeem Holding in Dubai said in response to e-mailed questions



"On the earnings front, I expect 2014 to be a better year due to higher sales owing to new projects.



UPP said on January 20 that it will build more than 150 high-end homes and luxury villas with National Properties in Dubai



The developer reported on February 3 a full-year profit of Dh1.58 billion (430 million) compared with Dh175.8 million in 2012



The shares have climbed 50 per cent this year compared with a gain of 30 per cent for Deyaar and 15 per cent for Dubai's benchmark index

 


Khaleej Times




  MENA News Headlines
 Aug 4 2015 - UAE Q3 non-oil sector keeps growing baseMENAFN
(MENAFN) An official report show that Business conditions in the UAE's non-oil private sector continued to improve in last July.Non-oil private sector employment in the UAE keeps on increasing in ...

 Aug 4 2015 - Emirates Reit to invest USD56.69m in Akoya new schoolMENAFN
(MENAFN) Dubai-based real estate investment trust Emirates Reit has announced that it will invest about USD56.69 million on building a new school in DAMAC's Akoya development. Emirates Reit acquired ...

 Aug 4 2015 - Egypt expands armed forces mission in YemenDaily News Egypt
(MENAFN - Daily News Egypt) President Abdel Fattah Al-Sisi met Saturday with members of the National Defence Council, in a meeting that saw the expansion of the Egyptian armed forces' participation ...

 Aug 4 2015 - Egypt- None can interfere in judiciary, Brotherhood defendants tried by law: Al-ZindDaily News Egypt
(MENAFN - Daily News Egypt) Minister of Justice Ahmed El-Zind said that defendants of the former Muslim Brotherhood regime are being tried according to the law, during a Friday TV show on a state-run ...

 Aug 4 2015 - Oman approves electricity projects worth USD600.2mMENAFN
(MENAFN) Three hundred fifty-nine projects with a total value of around USD600.2 million were approved by licensed operators last year to enhance the electricity network in Oman.The projects were ...

 Aug 4 2015 - Industries Qatar profits surge 20 percent in Q2MENAFN
(MENAFN) Industries Qatar said its second-quarter profit increased 20 percent, beating analyst forecasts, although its half-year profit fell because of declining petrochemicals prices.The ...

 Aug 4 2015 - Health Ministry's Hajj Preparatory Committees hold meetingSaudi Press Agency
(MENAFN - Saudi Press Agency) The Preparatory Hajj Committees of the Ministry of Health held their 12th meeting at the ministry yesterday, in the presence of the heads of the preparatory committees ...

 Aug 4 2015 - Kingdom of Saudi Arabia's Scouts honor World Scout Committee MembersSaudi Press Agency
(MENAFN - Saudi Press Agency) Saudi Arabian Boy Scouts Association honored the members of the World Scout Committee during their visit yesterday to the Saudi delegation participating in Arab Cultural ...

 Aug 4 2015 - Kingdom of Saudi Arabia's Consul General in Los Angeles : We did not record any contact from citizens due to fires in Northern CaliforniaSaudi Press Agency
(MENAFN - Saudi Press Agency) The Consul General of the Kingdom of Saudi Arabia in Los Angeles, Ambassador Dr. Faisal bin Abdulaziz Al-Sudairy, confirmed that there is no Saudi citizen close to the ...

 Aug 4 2015 - UAE- Apparel unveils community centre in AjmanKhaleej Times
(MENAFN - Khaleej Times)Apparel Group has launched its first community centre in the UAE - Grand Centrale in Ajman. His Highness Shaikh Humaid bin Rashid Al Nuaimi Member of the Supreme Council and ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help