ArabianBusiness.com - Middle East Business News
Monday, 09 November 2009 05:11 UAE time

YOUR DIRECTORY /

| Share |

Real estate arrests to hit UAE markets

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 17 August 2008
MARKETS HIT: The arrests of senior real estate executives in Dubai is likely to impact UAE stock markets. (Getty Images)

Hopes of UAE markets rebounding are likely to be dashed this week by concerns over financial irregularities at mortgage lender Tamweel and developer Nakheel.

“Isolated bad news has a way of snowballing into a negative sentiment and we expect property stocks to take a further hit on the Dubai exchange this week,” a trader on the Abu Dhabi Securities Exchange (ADX) told UAE daily Emirates Business 24/7.

Property giants Emaar and Aldar Properties will be key to the Dubai and Abu Dhabi markets’ fortunes, the newspaper noted.

Story continues below
advertisement

Last week it emerged a senior executive at state-owned developer Nakheel and Tamweel's former CEO and head of investments are being investigated for alleged wrongdoing.

The probes follow similar investigations into Deyaar Development and Dubai Islamic Bank earlier this year.

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
Too bad!
Posted by John Doe on Sunday 17 August 2008 at 13:36 UAE time

A big lesson for all those greedy people!

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

SHARE PRICE CHECK

more » MIDDLE EAST MARKETS DATA

ADX

Last Price:

2,941.72

+21.58+0.74%

8 Nov 2009 10:00 GMT
(Market Closed)

RELATED LINKS

  1. Abu Dhabi Securities Exchange (ADX)»
  2. Dubai Financial Market (DFM)»

 EMAIL ALERTS

  1. Abu Dhabi Securities Exchange (ADX)

  2. Dubai Financial Market (DFM)

  3. Financial Markets


CURRENCY CONVERTOR

Tell us your story

READER COMMENTS

  1. The tipping scandal 12
    08 Nov ' 09 at 16:32
    Steve you are 100% right. Managers and bosses have no right to use tip money for any other purpose than todistribute it to the staff...   More  »
  2. The party's just beginning 10
    08 Nov ' 09 at 18:31
    The recession may be coming to an end, but my guess is that there is no party in sight, just a depression! The typical line i hear in...   More  »
  3. Al Habtoor chief upbeat on Dubai future 08
    08 Nov ' 09 at 20:55
    I agree with Mr Khalafs comments, yesterday is gone,tomorrow nobody seen, what he is expecting beyound tomorow ,is his positive...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM