Real estate stocks lift Abu Dhabi index by 0.82%

20 June 2010

The ADX General Index rose on Sunday amid a GCC wide rebound mood, closing 0.82% higher at 2,536 points straight. As in Dubai, the capital emirate real estate development bellwethers were demanded. Aldar Properties surged 4.68%, finishing at Dhs3.19 after the developer announced that it signed an exclusive partnership agreement with U. S. food and beverage giant PepsiCo for the Ferrari World Abu Dhabi, the world's largest indoor theme park, which will open to the public on October 28, 2010. Sorouh Real Estate added 1.55% and ended at two Dirham. Sorouh reported a fire at its Al Rayyana tower (under construction) near the Abu Dhabi Golf course which happened on Saturday. Only five shares declined, with Ras Al Khaima Poultry and Feeding Company plummeting 10%, ending at Dhs1.53.

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