Abu Dhabi real estate shares regain territory

06 October 2010

The ADX General Index closed 0.68% higher on Tuesday, ending at 2,677.63 as real estate heavyweights Aldar (up 2.92% at Dhs2.46) and RAK Properties (gaining 2.38% at Dhs0.44) lifted the index. According to Cluttons Research Abu Dhabi committed $15bn to infrastructure projects for the period 2009-2012, mainly to improve the hotel and retail market in the UAE capital. A further 400,000 square metres of retail space is expected to be delivered by the end of 2011. Shares of RAK Ceramics declined 1.10% to Dhs1.76. The bourse revealed today, that the ADX General Index accumulated more than 6.3% of gains during the third quarter of 2010 as compared to the second quarter of the same year. Aldar Properties remained to be the most liquid share accounting for 27.5% of the total value of trading with Dhs2.08bn worth of transactions, and 22.5% of the total volume of traded shares with 865.3m shares changing hands.

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