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Patient was taken to Al Dhaid Hospital for necessary treatment
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Emaar Shares Up 7.2 Per Cent on Saudi Contract Win
DUBAI - Emaar Properties PJSC advanced, pushing the Dubai Financial Market to a November high, after the United Arab Emirates’ biggest developer won the contract to build the world’s tallest tower in Saudi Arabia.
The shares of Emaar, which have the highest weighting on Dubai’s index, soared 7.2 per cent. The company will build the 1,000-metre tower and the surrounding Kingdom City in a SR100 billion project. The Dubai Financial Market General Index jumped 4.8 per cent to 2,198.31, the highest since November 12. Benchmarks in Abu Dhabi and Saudi Arabia also climbed to a high for the year.
“The deal’s size is potentially very significant and game-changing for Emaar,” said Ali Khan, head of cash-equity trading at Arqaam Capital Limited.
Emaar jumped to Dh4.18. Arabtec Holding Company, the UAE’s biggest construction company, added 2.9 per cent to Dh3.18, the highest since October. Emirates NBD PJSC, the country’s largest bank by assets, rose for a fourth day, advancing 4.8 per cent to Dh4.12.
The ADX General Index in Abu Dhabi surged 3.4 per cent to a November high. Saudi Arabia’s Tadawull All Share Index added 0.3 per cent to 6,113.16 in early trading in Riyadh, poised for the highest close since October.
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