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
 Oct 21 2016 - Loan demand in UAE to grow in Q4MENAFN
(MENAFN) The demand for lending by businesses is predicted to grow in the last quarter of this year after facing a decline from March to Sep end period.Moreover, 40 percent respondents see demand for ...

 Oct 21 2016 - Egypt's economy to grow by 3.5pctMENAFN
(MENAFN) Egypt's economy will grow to 3.5 percent in the 2016-2017 years, missing the government"s target of almost 5 percent.The country has been struggling to stimulate its economy amid severe ...

 Oct 21 2016 - Saudi's Kingdom Holding posts 38.3pct fall in profitMENAFN
(MENAFN) Saudi Arabia's Kingdom Holding recorded a 38.3 percent decline in third quarter net profit.Moreover, the firm's revenue reached USD48.0mn in the cited period, against 291.5mn riyals a year ...

 Oct 21 2016 - Pause in strikes on Aleppo holds into second day AFPGulf Times
(MENAFN - Gulf Times) A pause in Russian and Syrian strikes on Aleppo was holding for a second day yesterday, ahead of a brief unilateral ceasefire aimed at allowing civilians and rebels to quit the ...

 Oct 21 2016 - 'East Aleppo ceasefire has begun, promises safe exit'Gulf Times
(MENAFN - Gulf Times) * Syrian army says corridors opened for rebels and civilians * Rebels say preparations under way for major assault on army The Syrian military said on Thursday a ...

 Oct 21 2016 - Lebanon detains 8 Syrians for plotting attacksGulf Times
(MENAFN - Gulf Times) Lebanon has detained eight Syrians accused of plotting suicide bomb attacks at popular tourist spots and on Lebanon's United Nations peacekeeping force, Lebanon's intelligence ...

 Oct 21 2016 - Missiles fromYemen injures Saudi civiliansGulf Times
(MENAFN - Gulf Times) A number of civilians in the southern Saudi Arabian province of Jazan have been injured by missiles fired from Yemen, the Saudi civil defense unit was quoted as saying by the ...

 Oct 21 2016 - Deadly Turkish raids on US-backed Kurd fightersGulf Times
(MENAFN - Gulf Times) Turkish warplanes carried out deadly strikes on US-backed militias in northern Syria, including Syrian Kurdish fighters, a monitor said Thursday, action that is likely to raise ...

 Oct 21 2016 - Use truce to leave Aleppo, junta tells local residentsGulf Times
(MENAFN - Gulf Times) A 'humanitarian pause” in the Syrian army";s Russian-backed assault on Aleppo took effect yesterday, but despite a drop in violence there was little sign residents were ...

 Oct 21 2016 - For Kenya's child brides, school offers a break from traditionMuscat Daily
(MENAFN - Muscat Daily) Halima's future at 13 was foretold: A pastoralist's daughter, she was married to a man 12 years her senior. Next would surely come the first of many pregnancies, and a life ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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