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 Epo 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
 Feb 24 2017 - Minister of Investment participates in Egyptian-Lebanese Business Forum in LebanonDaily News Egypt
(MENAFN - Daily News Egypt) Minister of Investment and International Cooperation Sahar Nasr is scheduled to fly to Lebanon on a two-day visit to participate in the Egyptian-Lebanese Business ...

 Feb 24 2017 - Egypt- Defence Minister pays official visit to Hungary to discuss military cooperationDaily News Egypt
(MENAFN - Daily News Egypt) Egyptian Minister of Defence Sedki Sobhi held talks on Wednesday with his Hungarian counterpart, István Simicskó, in Budapest during an official visit paid by Sobhi to ...

 Feb 24 2017 - Egypt- Mobile operators offer their voice services to TEDaily News Egypt
(MENAFN - Daily News Egypt) Mobile phone companies offered their voice services to be used by Telecom Egypt (TE) in phases that are being agreed upon. TE is to offer mobile services this year. ...

 Feb 24 2017 - Egyptian parliament says Merkel is to visit Egypt next week, no German confirmation yetDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian parliament said in an official statement on Tuesday that German chancellor Angela Merkel will visit Egypt next week. There was, however, no confirmation ...

 Feb 24 2017 - Iraqi army storms Mosul airport in key attack on 'Islamic State'Daily News Egypt
(MENAFN - Daily News Egypt) The Iraqi military said on Thursday that special forces were closing in on "Islamic State" (IS) terrorists in the city of Mosul. State television reported that ...

 Feb 24 2017 - UN envoy doubts 'breakthrough' at Syria peace talksDaily News Egypt
(MENAFN - Daily News Egypt) Talks to end Syria's six-year conflict restart in Geneva on Thursday. They will be the first United Nations-mediated negotiations on Syria in almost a year, during ...

 Feb 24 2017 - Immigration Minister hosts Egypt's first workshop on harnessing migration for developmentDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian Ministry for Immigration and Egyptian Expatriate Affairs and the International Organization for Migration (IOM) have hosted Egypt's first international ...

 Feb 24 2017 - Minister of Investment participates in Egyptian-Lebanese Business Forum in LebanonDaily News Egypt
(MENAFN - Daily News Egypt) Minister of Investment and International Cooperation Sahar Nasr is scheduled to fly to Lebanon on a two-day visit to participate in the Egyptian-Lebanese Business ...

 Feb 24 2017 - Egypt- Defence Minister pays official visit to Hungary to discuss military cooperationDaily News Egypt
(MENAFN - Daily News Egypt) Egyptian Minister of Defence Sedki Sobhi held talks on Wednesday with his Hungarian counterpart, István Simicskó, in Budapest during an official visit paid by Sobhi to ...

 Feb 24 2017 - Egypt- Mobile operators offer their voice services to TEDaily News Egypt
(MENAFN - Daily News Egypt) Mobile phone companies offered their voice services to be used by Telecom Egypt (TE) in phases that are being agreed upon. TE is to offer mobile services this year. ...

more...


 





Google

 
 

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

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