Real estate arrests to hit UAE markets

  • Share via facebook
  • Tweet this
  • Bookmark and Share

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.

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.

Related:

Market Performance

Dubai Financial Market
3.51
-0.02 -0.57 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: John Doe

A big lesson for all those greedy people!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Little-known investor poised to score big with Twitter IPO

Little-known investor poised to score big with Twitter IPO

New Yorker Suhail Rizvi has quietly amassed a $1bn 15% stake...

Facebook IPO sparks dreams of riches, adventure

Facebook IPO sparks dreams of riches, adventure

A website founded in a Harvard dorm room is set for the most...

Egypt investors look beyond short-term turbulence

Egypt investors look beyond short-term turbulence

Country's short-term outlook is bumpy, but worst of capital outflows...

Most Discussed
  • 15
    Germany puzzled as UAE think tank ordered to close

    Matt, your words sound kind of funny given the role the Britain has played in this region for so many decades.
    And given the democratic tradition that... more

    Thursday, 17 April 2014 7:10 PM - one of the joes
  • 10
    UAE father who whipped son to death wins appeal

    "Under Sharia, a parent cannot be executed for killing their child"
    A spouse could be executed if he/she kills his/her spouse, as none of them is... more

    Friday, 18 April 2014 3:38 PM - Nihar
  • 3
    To diet or not to diet?

    It is best to eat by your blood type. Following this diet is miraculous. Generic diets don't always work as certain foods are not good for the individual... more

    Friday, 18 April 2014 11:49 AM - Shamira Mitha
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams