Abu Dhabi's Eshraq Properties rises in early trade after the company announced plans for cross listing its shares in Saudi Arabia and announced dividends.
The company is seeking regulatory approval for a listing on tadawul, the Saudi exchange. It's board also proposed a cash dividend of 22 percent.
Eshraq climbs 1.6 percent, extending year-to-date gains to 51.2 percent. The stock has been the target of heavy retail investment.
Abu Dhabi's measure eases 0.08 percent to 2,991 points, its bull run slowing down after the market hit a 40-month high in late February.
Aldar Properties and Sorouh Real Estate, the two firms due to merge later this year, are the main drag, slipping 2.1 and 1.7 percent respectively.
Dubai's index climbs 0.2 percent to 1,934 points, heading for its fourth straight gain.
In Qatar, Barwa Real Estate drops 5.7 percent to its lowest since May 2009 after the developer said 2012 net profit slipped 17 percent.
Mazaya Qatar sheds 3.8 percent after shares reach ex-dividend date.
Doha's benchmark declines 0.6 percent to 8,491 pints, trimming 2013 gains to 1.6 percent.
Elsewhere, Kuwait's measure climbs 0.6 percent to 6,706 points and Oman's bourse rises 0.4 percent to 6,034 points.