By: Enas Bahgat
Dubai – Mubasher: Emaar Properties’ stock, listed on the Dubai Financial Market (DFM), is moving upwardly on Wednesday, breaking AED 5 ahead of disclosing the company’s financial results for the first half of 2019.
The stock has acquired over 31.5% of the DFM’s liquidity by the middle of today’s trading session, backed by the company’s recently announced projects.
By 11:50 am UAE time, the stock went up 0.78% to AED 5.19 after seeing a traded volume of 6.075 million shares exchanged through 538 transactions.
Emaar Properties is expected to post positive financial results for the second quarter of 2019 and H1-19, analysts told Mubasher.
Raed Diab, vice president at KAMCO Investment Co, projected that the real estate sector to report healthy financial results for H1-19 on the back of the listed-companies’ positive news.
Earlier this day, Emaar clarified that the recent repayment of the $500 million sukuk will be reflected in its financial results for the third quarter of 2019.
On Tuesday, Emaar announced it had signed a memorandum of understanding (MoU) with Beijing New Aerotropolis Holdings (BNA) to develop the Aero-Economic Area of Beijing Daxing International Airport in China, expected to the world’s largest airport.
Translated by: Mai Ezz El-Din
