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Abu Dhabi real estate shares rebound

23 August 2010

The ADX General Index added 0.15% higher and clsoed at 2,509.28 points, mainly due to gains at real estate heavyweight Aldar Properties (up 1.36% at Dhs2.23) and Ras al-Khaima (RAK) Properties. Gulf News reported today that Aladar plans to deliver residential units of the Dhs55bn mixed-use Al Raha development "in the coming weeks". Abu Dhabi National Energy Corp., dubbed Taqa, dipped 1.65% lower at Dhs1.19 due to uncertainties in the oil market. Oil prices gained slightly and traded 0.35% higher at around $74 on mid Monday.

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