Dubai – Mubasher: Emaar Properties’ stock, which is listed on on the Dubai Financial Market (DFM) fell 1.9% to AED 4.67 in Tuesday's trades, its lowest level since 19 January 2016, after announcing that its wholly-owned hospitality and leisure business subsidiary, Emaar Hospitality Group, has signed “definitive documentation” with Abu Dhabi National Hotels (ADNH) to divest its entire economic interest in a portfolio of five hotels in Dubai.
By 11:10 am UAE time, the stock saw 3.3 million shares were exchanged, generating a turnover of AED 15.49 million.
In the meantime, the DFM’s benchmark index inched down 0.74% to 2,707.34 points after 31.4 million shares were exchanged, generating AED 41.13 million in a liquidity.
Emaar Properties last reported a 28% year-on-year growth in net profits during the first nine months of 2018, registering AED 5.262 billion, from AED 4.102 billion.
